A witness for Ms Beverley Cooper-Flynn TD told the High Court today that he knows "very little" about the CMI investment portfolios which she sold when she worked for National Irish Bank in the early 1990s.
|
|
Ms Beverley
Cooper-Flynn |
Asked by counsel for RTÉ Mr Kevin Feeney SC what he knew about the product Mr Frank O'Brien said: "Very little, only what I picked up in court yesterday and Friday."
"I'm on thin ice when it comes to CMI. You know far more about it than I do," he added.
Mr O'Brien worked as an accountant for Irish Life from 1965 to 1977 and returned there in 1992 as Investment Director of Fund Management. He no longer works for Irish Life.
Questioned on the issue of tax evasion Mr O'Brien said he had no knowledge of the black economy.
"I don't know anything about tax evaders or their practices", he said.
He said he did not agree that taxation matters would be the first question a prospective investor would ask about. He said he himself would be more interested in the returns.
The jury was presented with graphs and charts drawn up by Mr O'Brien in relation to the economy for five years up to 1993.
Mr Feeney SC suggested the charts drawn up by Mr O'Brien would have very little influence in 1996 and 1997.However, Mr O'Brien said past experience can affect people's thinking for many years.
Ms Cooper-Flynn from Westport Road, Castlebar in Co Mayo is suing RTÉ journalist Mr Charlie Bird and retired farmer Mr James Howard of Wheaton Hall, Drogheda in Co Louth.
She claims she was libelled in broadcasts on RTÉ between June 19th 1998 and July 1st 1998 and words used on the programme claimed she had instigated a scheme the object of which was the evasion of the lawful payment of tax.
The case continues.
