Nama under Garda investigation - FF senator

The National Management Agency (Nama) is under Garda investigation, Fianna Fail senator Darragh O'Brien has claimed.

Mr O’Brien told the Seanad today he was “in receipt of information which, in my view, will rock Nama to its very core’, adding that the Garda Commissioner had been requested to carry out an investigation into “corruption and impropriety’’ in the agency.

Mr O’Brien said Nama was the largest property management company in the world, with responsibility for €74 billion in loans. “Allegations have been made in the past couple of years with regard to how Nama’s current and former staff have used information they obtained during the course of their work,’’ he added.

“It has been alleged that those to whom I refer have leaked or given this information to third parties...vulture funds and other investors.’’

He said it was crucial that Taoiseach Enda Kenny, Minister for Finance Michael Noonan and Minister for Justice Alan Shatter come before the House and make a statement on the matter. The situation was so serious that Nama could be undermined, he added.

Labour senator Ivana Bacik said anyone with information about corruption or criminal matters had an obligation to report it to the Garda. "That overrides any imperative for discussing such matters in this or any other forum,'' she added.

Mark Daly (FF) said it had been "in the ether for a long time that former developers have been benefiting in terms of buying back their own properties from Nama''. He added that he had previously raised the issue.