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Two face fraud charges over NAMA NI deal
Pic: RollingNews

06 Aug 2020 / property Print

Two face fraud charges over NAMA NI sale

Northern Ireland’s Public Prosecution Service (PPS) has decided to charge two men with fraud in connection with an investigation into the sale of NAMA’s Northern Ireland property loan book.

In a statement, the PPS said it had decided that there was enough evidence to prosecute the two in connection with alleged activity linked to the property deal known as Project Eagle. This follows an investigation by the National Crime Agency (NCA).

Fraud

A 78-year-old man is to be charged with one count of the offence of fraud, contrary to section 1 of the Fraud Act 2006 involving a failure to disclose information between 1 April 2013 and 7 November 2013.

The 78-year-old and a 49-year-old man are also to be jointly charged with one count of fraud, contrary to section 1 of the Fraud Act 2006 involving a false representation made on or around the 3 April 2014.

The 49-year-old man faces two further fraud charges and two counts of concealing criminal property.

Sale

The investigation examined the circumstances surrounding the sale and attempted sale of NAMA’s Northern Ireland property loan book to two US investment firms in 2014.

The PPS decided not to prosecute six other people in connection with Project Eagle after it was concluded that there was insufficient evidence available to provide a reasonable prospect of conviction.

A decision was previously taken not to prosecute one suspect in November 2018 arising out of the Project Eagle investigation.

Gazette Desk
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