Lynn investigation

Lynn documents sent to fraud bureau

A HIGH court judge made an order yesterday (Monday) allowing documents relating to the accounts of troubled Crossmolina-born solicitor Michael Lynn to be sent to the National Bureau of Fraud Investigation. This move now allows the bureau to decide if an investigation into Mr Lynn’s financial affairs is appropriate.
Mr Justice Peter Kelly made the order after First Active received an order last week from the Commercial Court directing Mr Lynn to pay back a loan of just over €5.1m. First Active claimed that Mr Lynn had not registered seven properties he had offered as security for the loan.
Also, in separate proceedings yesterday, the same judge gave judgment to ACC bank against Mr Lynn for a loan of just over €1.7m. National Irish Bank and IIB Homeloans are looking for almost €4m from solicitor Michael Lynn who is now believed to owe at least €70m to around ten banks. Bank of Scotland Ireland is also taking action against Mr Lynn’s wife, Brid Murphy, for the recovery of €3.8 million.
In court last week, Mr Lynn’s barrister, Gabriel Gavigan, said his client would not want to do anything to incriminate himself but he said he may indeed have an answer to the allegations made by First Active.
Mr Lynn is back in court next week where he is expected to reveal the contents of an affidavit which will list the properties that he owns. He has given an undertaking to the High Court not to work as a solicitor without court permission.