The jury in the multi-million-euro trial of former solicitor Michael Lynn has asked if they could see a transcript of all of Lynn's evidence, along with the evidence of one former Bank of Ireland banker.

Judge Nolan said he would consider the matter and sent the jury home after three hours of deliberations last Friday (27 May). 

‘The big question’

The judge said that the big question in this case was whether there had been deception. He said that the banks voluntarily made orders for the monies to be paid to Lynn.

“That is not a problem,” he said.

“The State is saying these payments were made as a result of deception. If they can't prove that beyond a reasonable doubt, you can't consider a conviction.”

Judge Nolan noted that Lynn “knew what he was going to say” and knew the names of the bankers he says were involved in secret deals.

He said the defence was “not powerless” and could subpoena witnesses they wanted to give evidence.

Permission or not?

He told the jury that if it concluded Lynn had permission to use the funds from the banks for his overseas property developments, then it must acquit him.

He said if the jurors didn't believe Lynn had permission from the banks, then “that's not the end of it.”

He said the jury must then examine the State's case and conclude that they have proven it beyond reasonable doubt, to convict Lynn. 

Lynn (53) of Millbrook Court, Red Cross, Co Wicklow is on trial accused of the theft of around €27 million from seven financial institutions. He has pleaded not guilty to 21 counts of theft in Dublin between 23 October 2006 and 20 April 2007. 

The prosecution’s case

It is the prosecution’s case that Mr Lynn obtained multiple mortgages on the same properties, in a situation where banks were unaware that other institutions were also providing finance.

The financial institutions involved are Bank of Ireland, National Irish Bank (later known as Danske Bank), Irish Life and Permanent, Ulster Bank, ACC Bank, Bank of Scotland Ireland and Irish Nationwide Building Society.

Lynn says banks were aware

Mr Lynn has told his trial that the banks were aware he had multiple loans on the same properties and that this was “custom and practice” among bankers in Celtic Tiger Ireland. He has said he had “secret deals” with several bankers, who gave him permission to use the loan money for his property developments abroad.

He told the court that he and former Irish Nationwide Chief Executive Michael Fingleton had been involved in a secret profit-share agreement in relation to a property development in Portugal.