The former head of the National Irish Bank Financial Services Division sought the protection of the High Court today and claimed immunity at the libel trial of Fianna Fail TD Ms Beverly Cooper-Flynn.
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Ms Beverley Cooper Flynn
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Mr Nigel D'Arcy was being questioned by Mr Kevin Feeney SC, representing RTÉ and journalist Charlie Bird, about customers it believed were ‘appropriate’ to market the CMI product to. Mr D'Arcy responded by saying "I would like at this stage to seek the protection of the court and to claim an immunity."
The jury was asked to leave the courtroom and the case adjourned for the day to consider legal argument over Mr D'Arcy’s position.
This morning, Ms Joan Quigley, a widow from Dundalk, Co Louth, told the court that Ms Cooper-Flynn advised her against availing of the 1993 tax amnesty in order to pay revenue on ‘undeclared money.’ She was advised instead to invest in a CMI Portfolio.
Ms Quigley said Ms Cooper-Flynn was fully aware that the £200,000 she put towards the CMI scheme was ‘undeclared’ for tax purposes. The money had been put into a First Trust bank account in Newry by her late husband.
In a seperate action Ms Quigley is suing NIB claiming she received bad financial advice.
Ms Cooper-Flynn of 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 that words used on the programmes meant she had instigated a scheme the object of which was the evasion of the lawful payment of tax and thereby caused loss to the Revenues of the State.
The defence denies the claims.