Marc MacSharry calls for investigation into Nama leak

Fianna Fáil TD Marc MacSharry has called for an independent investigation into the leaking of information from Nama in connection with some 800 debtors.

This follows an approach made to him by a person affected by the leaks. Mr MacSharry has submitted 15 parliamentary questions to the Minister for Finance Michael Noonan on the matter, asking, among other things, if the information ended up in the hands of funds or entities bidding to purchase assets from Nama, and if the State suffered a loss as a result.

He has also asked Mr Noonan if Nama has informed all of the debtors affected by the leaks, dating back to 2011 and 2012, and enquired if compensation has been paid or if any legal cases are pending from debtors.

In addition, Mr MacSharry has asked if the data protection commissioner has been notified of the leaks and if any Nama employees or directors have been the subject of investigation by the State agency in relation to the leaks.

Yesterday, former Nama official Enda Farrell was given a two-year suspended sentence for leaking potentially sensitive information about the Nama valuation of hundreds of properties to named individuals in the investment companies QED Equity Ltd and Canaccord Genuity.

"As I understand it, information in relation to approximately 800 Nama debtors/clients, including the identity of property assets, valuations of those assets and loan values, were leaked and may have been received by entities who ultimately bid and purchased those assets," Mr MacSharry told The Irish Times last night.

Mr MacSharry said this was a “very serious matter” that could have “huge implications for the exchequer and ultimately the outcome of Nama”, which is projected to achieve a surplus of about €2 billion for the State by the time of its wind down in 2020.

Both Nama and the Department of Finance declined to comment last night, saying the parliamentary question would be dealt with in the normal manner.

Mr Farrell pleaded guilty to eight counts of of unlawfully disclosing information, between May and July 2012.