Gardaí investigating an alleged €450,000 fraud at University of Limerick have arrested a man as part of the latest stage of their inquiries.
The detained man, who is in his 60s, is being held under Section 50 of the Criminal Justice Act 2007 at a Garda station in the west of Ireland.
His detention follows the arrests in March of two men in their 60s. Both of those men were released without charge at the time.
The Garda said in March its investigations were continuing with a view to sending a file to the DPP.
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“Detectives attached to the Anti-Bribery and Corruption Unit, Garda National Economic Crime Bureau have arrested a male, in his 60s as part of an ongoing investigation into alleged corrupt practices at a public body in Munster,” said Garda Headquarters, Phoenix Park, Dublin, in a brief statement on Wednesday.
[ Two arrested over alleged €450,000 fraud at ULOpens in new window ]
The Irish Times understands the inquiry incorporates, but is not limited to, examining payments made to former UL personnel which are now regarded as historical given the passage of time involved. However, the investigation does not include any of the recent governance concerns related to UL and is completely separate to the recently highlighted issues.
Last December, the university had €1.7 million out of €2.5 million in capital funding withheld from the Department of Higher Education over concerns about its financial governance.
This included recent allegations it had paid twice the market value in acquiring the old Dunnes Stores site in Limerick city centre for €8 million in 2019 and that no independent valuation had been sought prior to the purchase.
These matters have been under investigation by independent auditors KPMG, and the Higher Education Authority, and the Public Accounts Committee.
