Financial adviser `knew nothing' of £200,000 payment for Haughey

The former financial adviser to Dunnes Stores, Mr Noel Fox, repeatedly denied knowing anything about a £200,000 sterling payment…

The former financial adviser to Dunnes Stores, Mr Noel Fox, repeatedly denied knowing anything about a £200,000 sterling payment routed from a company in the Far East to Mr Charles Haughey in November 1990 when he gave evidence to the tribunal yesterday.

Mr Fox said he did not know when Mr Ben Dunne agreed to contribute money towards the former Taoiseach's "financial troubles".

Earlier, the tribunal was told by Mr Dunne that the money was part of the profits generated by Wytrex Far East Ltd, a company based in Hong Kong which sourced textiles for Dunnes Stores. All its profits went to Mr Dunne personally.

Mr Fox, a trustee of Dunnes Stores, said he knew nothing about the company other than that it was a supplier to Dunnes Stores. He was not aware that money being accumulated in the Far East went to Mr Dunne.

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The tribunal heard that the Wytrex payment was channelled through the Bank of America in London to the account of Ansbacher Cayman Ltd at the Guinness & Mahon bank in Dublin. Mr Dunne said that the details of accounts through which the funds were to be channelled would have to have been given to him by Mr Fox.

Mr Fox denied this. He said he was unaware of the payment until he was asked by letter from the tribunal in April this year for his recollections of it.

He said he had been approached by Mr Des Traynor, who sought a £150,000 payment from Mr Dunne for Mr Haughey. Mr Traynor explained that several businessmen were going to contribute to the fund to raise £900,000 for Mr Haughey and Mr Dunne had indicated that he would "pay the lot" himself.

On a number of occasions when requests were made for funds, Mr Traynor had given him Ansbacher Cayman account numbers. These had been disclosed to the McCracken tribunal.

Questioned by counsel for the tribunal, Mr Jerry Healy, as to why this pattern would not have been followed with the Wytrex payment, he said he could not think of a reason, but he had nothing to do with it.

Mr Healy put it to him that he did not recall the Triple-Plan payment to Mr Haughey during the McCracken tribunal and asked how he could be sure that he had not forgotten the Wytrex one. "I had nothing to do with it, because I can't remember having anything to do with it", Mr Fox said.

Mr Jack Stakelum, who operated a bill-paying service for Mr Haughey, also gave evidence. He said that he loaned £15,000 to Feltrim Mining, the exploration company set up by the former Taoiseach's son, Mr Conor Haughey. He denied that the payment was made because of the Haughey connection, pointing out that he had rescued many companies. He had agreed to loan money to the company when it was in "dire straits" because of a previous association with it.