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| 06/08/2012 |
Insider NAMA Deal Should Be Referred To Gardai - McGrath |
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Revelations that a senior executive at NAMA was able to purchase a property from the agency's portfolio which was not put up for sale on the open market should be referred to the Gardai to investigate further under the NAMA Act 2009, according to Fianna Fáil Finance Spokesperson Michael McGrath.
Deputy McGrath, who was responding to the story carried on The Sunday Times, stated: "In my view, it is completely unacceptable for an employee of NAMA to be allowed to conduct a private purchase of a property in the NAMA portfolio in this manner. It exposes the agency to the most serious allegations about how it does its business.
"It is clear that the compliance procedures within NAMA did not work in this case. This raises the question of how many other times such private purchases have occurred involving NAMA staff or persons connected to them. I believe the failure of NAMA's compliance procedures in this case and their overall effectiveness needs to be fully investigated by an independent person appointed by the Minister for Finance. I also believe that this particular case needs to be investigated by the Gardai to establish if an offence has occurred under Section 202 or any other section of the NAMA Act 2009.
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