Northern Ireland news

Nama: Men arrested about property deal named in Dáil

The National Crime Agency is investigating Nama's £1.2 billion sale of its Northern Ireland property portfolio to US firm Cerberus
Staff Reporter

FORMER senior Nama executive Ronnie Hanna was one of two men arrested and released last month by officers investigating Northern Ireland's biggest ever property deal.

The Dáil heard yesterday that the other man arrested was former Nama advisor Frank Cushnahan.

The National Crime Agency (NCA) arrested two men in Co Down and carried out searches.

They were later released without charge.

The NCA is investigating Nama's £1.2 billion sale of its Northern Ireland property portfolio to US firm Cerberus.

Nama, the Republic's 'bad bank', was established at the height of the financial crisis in 2009 to remove toxic property-linked loans from the books of banks that had been bailed out.

Independent TD Mick Wallace yesterday called for a commission of investigation into the £1.2 billion sale. But the Republic's finance minister Michael Noonan said investigations were already taking place and advised against an expensive commission.

Mr Hanna, a former senior executive at the Ulster Bank, was head of asset recovery at Nama but left in late 2014.

Mr Cushnahan, a high-profile businessman, sat on Nama's Northern Ireland advisory committee from May 2010 until November 2013.

The Irish News has previously reported that Mr Hanna and Mr Cushnahan had been arrested.

All parties involved in the property deal deny any wrongdoing.

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