Former solicitor previously admitted he was responsible for his borrowings, trial hears

By Isabel Hayes

Former solicitor Michael Lynn previously admitted he was responsible for his multi-million euro borrowings with a number of banks, his theft trial has heard.

Mr Lynn (55), of Millbrook Court, Redcross, 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 October 23, 2006 and April 20, 2007.

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 (INBS).

Yesterday, Detective Sergeant Ger Coomey of the Garda Economic Crime Bureau told Karl Finnegan SC, prosecuting, that he was present in court when Mr Lynn gave evidence on the last occasion.

He agreed with prosecution counsel that under cross-examination in the witness box, Mr Lynn “admitted he was responsible for the borrowings”.

“He accepted he received the benefit of the monies,” Mr Finnegan asked.

Det Sgt Coomey agreed.

The trial heard Mr Lynn previously told the court: “They were my borrowings. They were my responsibility with the banks.”

Under cross-examination from Mark Lynam SC, defending, Det Sgt Coomey agreed that the purpose of him giving this evidence was “so the prosecution don’t have to go through the evidence” and the defence had agreed to this.

“[Mr Lynn] said a lot more than just ‘I got that money’, he put forward a defence,” Mr Lynam said. The detective agreed.

Mr Lynam told the court Mr Lynn will be giving evidence in this trial and the jury “will hear his full account”.

The trial continues before Judge Martin Nolan and the jury.