The Office of the Director of Corporate Enforcement (ODCE) is receiving 80 reports per month from auditors who suspect they have discovered suspected indictable offences.
A 70-year-old Dublin man has been sent forward for trial in the Circuit Criminal Court in the first case arising from the Revenue Commissioner's inquiry into NIB's offshore bond schemes.
Mr Christopher Jones, of Beauhill, Whitestown, Rush, Co Dublin, is charged with two offences relating to the submission of incorrect tax returns in 1993 and 1994, relating to the tax years 1991/1992 and 1992/1993.
Yesterday he was remanded on personal bail of €500. Judge Thomas Fitzpatrick sent the case forward for hearing at the next sitting of the Circuit Criminal Court.
The Dublin District Court was told that a book of evidence in the matter had been served on the accused by tax inspector Mr John Flynn.
Reports flood in for ODCE
Mr Paul Appleby, in an end of year review, said his office received 395 such reports from auditors during 2002 and given the current rate at which they are coming in, expects to receive double that number in 2003.
Under legislation which came into effect during 2002, auditors are obliged to report suspected indictable offices to Mr Appleby's office.
Record house building forecast
RECORD levels of housing supply are predicted this year following a 63 per cent increase in private developments over the past 12 months.
Some 47,079 new developments were registered with HomeBond, the housing warranty provider, 36 per cent ahead of the previous record figure of 34,613, recorded in 2000. The upturn is attributable to the return of investors and a rise in first-time buyers, HomeBond managing director Mr Michael Greene said.
Drop in new car sales for 2002
NEW car sales fell in 2002 but not by as much as had been anticipated. The number of new cars sold fell 5 per cent to 156,115.
Mr Cyril McHugh, chief executive of the Society of the Irish Motor Industry, said that, depsite the fall, it was "a very satisfactory trading year".
Sales in December were up 84 per cent on 2001, a figure distorted by the fall-off in demand following the September 11th attacks in the United States.
Sales up 40% at Buy4Now
ONLINE retailer Buy4Now has reported a 40 per cent rise in sales to €5.1 million during the last three months of 2002.
The site, which offers online access to a number of established retailers including Superquinn, Arnotts, Easons, Atlantic Homecare, had more than 300,000 visitors during December.
Goggin makes €1.1m on shares
BANK of Ireland executive director Mr Brian Goggin has made a paper gain of more than €1.1 million following the exercise of options in the company.
Mr Goggin, who is chief executive of the wholesale finance services division, exercised options over 80,000 shares at €1.67 and 60,000 shares at €2.819 at a total cost of €302,740. At yesterday's closing price of €10.25, the shares are worth €1.435 million. Sherry FitzGerald buys back shares
SHERRY FitzGerald, the estate agent group, has purchased 12,739 of its own ordinary shares at a price of €1.45 per share. The shares will be cancelled.
Last month the group bought back 25,000 shares at €1.30 per share.
Air Enterprises
IN an item on these pages on November 27th, we indicated that US air-handling systems producer, Air Enterprises had established a manufacturing relationship with Cork company, Edpac.
It was stated that Edpac was a manufacturer of "lower-grade" air handling systems.
In fact, Edpac manufactures class-B air handling systems while Air Enterprises produces class-A systems. Both companies produce high-grade air-handling systems.
