NAMA criticised for failing to investigate alleged fixer's fee

NAMA criticised for failing to investigate alleged fixer's fee

NAMA has been criticised for failing to investigate the circumstances of an alleged fixer's fee to be paid to a former advisor.

Senior officials have confirmed they did not investigate an alleged fee to be paid to Frank Cushnahan over its Northern Ireland loans.

The agency says Cushnahan was no longer an advisor when the agreement came to light.

But NAMA Chairman Frank Daly was criticised by Sinn Féin's Mary Lou McDonald for not investigating further.

Daly: "Pimco did not disclose that to us."

McDonald: "Did you ask for it?"

Daly: "No."

McDonald: "Why didn't you ask for it?"

Daly: "As far as we were concerned at that stage we were taking steps to exit Pimco from the process and Mr Cushnahan was gone."

McDonald: "You still has a responsibilty to establish a chain of events."

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