Independent TD Mick Wallace has claimed that £45 million was paid to 'fixers' as part of the controversial £1.3 billion sale of Nama’s Northern Ireland loan portfolio.
The Irish government is coming under increasing pressure to launch a commission of investigation after the outspoken politician told the Dáil there were “serious problems” with the sale of 'Project Eagle' to US investment fund Cerberus last year.
Mr Wallace sparked a political storm in July after using Dáil privilege to allege that £7m had been placed in an offshore bank account “reportedly earmarked for a Northern Ireland politician” or party.
On Wednesday, First Minister Peter Robinson dismissed as “scurrilous and unfounded” allegations by loyalist blogger Jamie Bryson that he had been set to receive a payment after the deal had been closed.
Mr Wallace dominated headlines again yesterday after claiming in the Dail that the entire Nama deal “stinks to high heaven”, before adding: “The £7m in the Isle of Man that we have been talking about was only for openers. A total of £45m has been paid to fixers.”
Speaking during Leader's Questions, Mr Wallace claimed that prior to the purchase of the northern portfolio, a “group of individuals” had approached “the big developers and asked them whether they would buy their loans back for 50p in the pound”.
“What happened? They jumped at it. However, they had to pay a fixer's fee,” he claimed.
Calling for a probe in the Republic, Mr Wallace said: “Nama sold Project Eagle to Cerberus for approximately 27p in the pound. The missing 73p has been picked up by the Irish taxpayer, those in the south, not the north - this is not just a northern problem.”
Addressing Tánaiste Joan Burton, the Wexford TD said: “Is the government prepared to look at this? Too many questions have not been answered. It is a serious concern for the public because it has cost them dearly.
"Is the government prepared to investigate it and initiate an independent investigation? It is seriously required.”
The former developer also rejected as “nonsense” Nama’s claims that its former northern advisor, Frank Cushnahan, had not been privy to confidential information on the sale.
After leaving Nama in 2013, Mr Cushnahan advised US investment firm Pimco, which made the final shortlist of bidders for Project Eagle.
Pimco withdrew from the process after details of Mr Cushnahan's involvement emerged.
Meanwhile, Mr Wallace demanded that the government step in to halt the sale of €7.2 billion Project Arrow portfolio, involving non-performing loans in the Republic and Britain.
Cerberus has made the bidders’ shortlist and is widely tipped to secure the deal.
“Given that Cerberus is under criminal investigation in two countries [the US and the UK] for Project Eagle, why has that company not been disqualified from Project Arrow? How, in God's name, can the government tolerate that?” Mr Wallace said.
Responding to Mr Wallace’s allegations, the Tánaiste said the issue was being investigated by the PSNI, the agencies dealing with serious crime and fraud in the UK and the Northern Ireland Committee for Finance and Personnel.
Nama last night issued a statement saying it had not been accused of, or involved in, any wrongdoing in respect of the Project Eagle sale.
“The ongoing inquiries in Northern Ireland relate to the alleged conduct of third parties on the buyer side of the Project Eagle transaction, and not to Nama,” it said.
The toxic debt agency also it had received the “full proceeds” from the sale while the “origins of the monies being referred to in reports are not from Nama”.
Cerberus has also denied that any improper or illegal payments were made on its behalf.
Mr Cushnahan has also denied any wrongdoing.
