Ex-Nama official admits passing on 'potentially, commercially valuable' information

A former Nama official has admitted passing on confidential information relating to various loans and property portfolios.

Enda Farrell from Dunboyne in Co. Meath disclosed the “potentially, commercially valuable” information to people at two financial services firms.

Enda Farrell was transferred to Nama after it was set up in 2009, and his job was to value properties that went into it - a job that required 12-hour shifts, seven days a week.

The court heard he had access to huge volumes of confidential information.

Mr Farrell left Nama for another job in February 2012, but before he did he emailed the information to a third party business account.

It was then sent to his personal account, thereby by-passing Nama's internal IT security.

Most of the information was sent to two individuals at QED Equity Limited and a person at Canaccord Genuity Limited.

The information contained 2009 valuations for Nama-controlled properties transferred from the Harcourt Doherty Group, the Cosgrove Group, a German portfolio and information relating to developer Paddy McKillen’s loans.

The court heard he did not make anything out of the disclosure and Nama was not at a loss because of it.

The 40-year-old, father-of-three will be handed a sentence next month.