Jury in Michael Lynn trial sent home to consider verdicts on Tuesday

The jury had been deliberating for six hours and 35 minutes in the Dublin Circuit Criminal Court trial
Jury in Michael Lynn trial sent home to consider verdicts on Tuesday

Isabel Hayes

The jury in the multi-million euro theft trial of former solicitor Michael Lynn has been sent home for the night.

They had been deliberating for six hours and 35 minutes in the Dublin Circuit Criminal Court trial.

Judge Martin Nolan sent the jury home for the day at 4pm on Monday afternoon, with deliberations set to resume on Tuesday morning.

Mr Lynn (53) of Millbrook Court, Red Cross, Co Wicklow is on trial accused of the theft of around €27 million from seven financial institutions.

He has pleaded not guilty to 21 counts of theft in Dublin between October 23rd, 2006 and April 20th, 2007.

It is the prosecution’s case that Mr Lynn obtained multiple mortgages on the same properties, in a situation where banks were unaware that other institutions were also providing finance.

The financial institutions involved are Bank of Ireland, National Irish Bank (later known as Danske Bank), Irish Life and Permanent, Ulster Bank, ACC Bank, Bank of Scotland Ireland and Irish Nationwide Building Society.

Mr Lynn has told the trial that the banks were aware he had multiple loans on the same properties and that this was “custom and practice” among bankers in Ireland during the Celtic Tiger.

He said he had “secret deals” with a number of bankers, who gave him permission to use the loan money for his property developments abroad.

He told the court he and former Irish Nationwide chief executive Michael Fingleton were involved in a secret profit share agreement in relation to a property development in Portugal.

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