A PROMINENT Fianna Fail figure is believed to have received more than £1 million from Dunnes Stores in the early 1990s. The money was paid by several cheques into different bank accounts in London on a number of dates.
Details of the transactions are understood to be contained in a report by accountants Price Waterhouse, commissioned by Dunnes Stores. The report is to be raised in the Dail today.
The cheques, signed by Mr Ben Dunne, were paid into accounts in a leading British banking group. It is understood the names on the different bank accounts were not those of the politician, but according to Price Waterhouse, he was the real beneficiary.
The report by the firm of accountants was commissioned by Dunnes Stores management after the departure of Mr Ben Dunne as managing director in 1993. It examined a range of payments made by Mr Dunne, including the money advanced to Mr Michael Lowry which led to his resignation.
Since the weekend there has been intense speculation in political circles about who else was named in the Price Waterhouse report as receiving money from Dunnes Stores, when Mr Dunne was managing director.
It is understood the Price Waterhouse report identifies the payments to the senior Fianna Fail figure, who is believed to have received the money over a six to nine month period in 1990/91. At least four separate payments, totalling £1.1 million, are understood to have been made.
Fianna Fail will seek to focus attention on Mr Lowry's relationship with Mr Ben Dunne in this afternoon's Dail debate.
Yesterday, in response to speculation in political circles, the party leader, Mr Bertie Ahern, said he was confident none of the present front bench had received money from Dunnes Stores. This issue would be "formally clarified" when the front bench meets in Leinster House today, according to a spokesman.
Meanwhile, Dunnes Stores maintained its silence on the affair and Mr Ben Dunne was not available for comment. The Dunnes board met yesterday, as it emerged that the group had been in discussions with the Department of Finance in October, seeking changes in the capital gains tax code. The members of the Dunne family would face a massive tax bill - perhaps as much as £80 million - if the trust broke up. However, the Minister for Finance, Mr Quinn, refused to agree to the changes.
The former minister, Mr Lowry, yesterday continued to defend his dealings with Dunnes Stores, which he said on RTE radio were "totally legitimate".
Meanwhile, the Taoiseach, Mr Bruton, speaking in Lisbon yesterday, said: "Personally, as everyone knows I have a great affection for Michael Lowry and a great belief in him". But equally, the Taoiseach said, Mr Lowry must co operate fully with the investigation into his actions.
Mr Bruton added: "I have great confidence and trust in him at a personal level, but equally I believe he is the same as anybody else in terms of the law."
