Developers hid shares, racehorse and a creche

Nama is pursuing legal action against nine property developers who failed to make full disclosure of their assets to the agency.

One file has been sent to the Garda Fraud Squad, Nama chief executive Brendan McDonagh told the Dáil’s Public Accounts Committee yesterday.

“We ask for full disclosure,” said Mr McDonagh. “If we have suspicions about a particular property developer then we will engage in an asset search.”