The sentencing of former solicitor Michael Lynn, who was found guilty of stealing nearly €18 million from six banks, has been adjourned to allow the defence to get a psychological report.
Lynn (55) was due to face a sentence hearing in Dublin Circuit Criminal Court today (15 January), but defence barrister Paul Comiskey O'Keeffe BL asked that the case be adjourned for a fortnight to allow for a psychological report to be prepared for the court.
Lynn (pictured) was found guilty by a jury of ten of the 21 counts against him after a Dublin Circuit Criminal Court trial last year. The jury was unable to agree on the remaining 11 counts before the court.
It was the second trial in the case, after the jury in his first trial, which ran for 16 weeks in 2022, was unable to agree on any verdicts.
Issues ‘linked to detention’
Judge Martin Nolan agreed to adjourn the matter for one month, after defence counsel said that there were matters in relation to Lynn's psychological health that he needed to put before the court.
Judge Nolan noted that nothing in relation to Lynn's mental health had arisen before, but Comiskey O'Keefe said that Lynn's status had now changed, and that it related to issues with regards to his detention.
He requested a two-week adjournment to allow for the report to be prepared, and Judge Nolan set a new sentencing date of 19 February.
Lynn, of Millbrook Court, Redcross, Co Wicklow had pleaded not guilty to 21 counts of theft in Dublin between 23 October 2006 and 20 April 2007, when he was working as a solicitor and property developer.
He has no previous convictions, and has been in custody since he was convicted just before Christmas.
Multiple mortgages
The court heard that Lynn had obtained multiple mortgages on the same properties, in a situation where banks were unaware that other institutions were also providing finance. These properties included 'Glenlion', Lynn's €5.5 million home in Howth, and multiple investment properties.
The financial institutions Lynn was found guilty of stealing from were: National Irish Bank, Irish Life and Permanent, Ulster Bank, ACCBank, Bank of Scotland Ireland, and Irish Nationwide Building Society.
The jury had been unable to reach a verdict on the single count relating to an allegation that Lynn stole €2.7 million from Bank of Ireland.
It was also unable to reach verdicts on ten counts in relation to Irish Nationwide, from which Lynn was accused of stealing €7.4 million. He was convicted on a single count of stealing €508,000 from that institution.
In relation to Irish Nationwide, Lynn had claimed that he signed a “memo of understanding” with bank chief Michael Fingleton in a Dublin hotel in 2006.
He said that the agreement involved Irish Nationwide providing funding for Lynn's apartment development in Portugal, with Fingleton set to benefit personally from this arrangement.