Tribunal losing the plot, says Desmond
He also complained about the length of the inquiry and the way it seemed to believe in "wild conspiracy theories" without any evidence of interference in the award of the licence by former Fine Gael minister Michael Lowry.
"I believe that the tribunal has given credence to the false impression that the identity of the provider of finance was a, or even 'the', determining factor. This was not the case," said Mr Desmond.
"There are days reading the transcript when you would think that I was the subject of this inquiry and not Michael Lowry."
Addressing tribunal chairman Mr Justice Michael Moriarty yesterday, Mr Desmond said he welcomed the opportunity to address what he regarded as the "uninformed and prejudicial way" his role had been portrayed during the six-year inquiry.
Mr Desmond who made more than e127 million from his interest in Esat, also hit out at the tribunal itself, claiming it did not understand underwriting, investment, risk taking and commercial deadlines.
The financier said the relevance of his involvement in the Esat consortium to the tribunal's terms of reference remained a mystery as there was nothing covert about the role of IIU in the process which he always wanted disclosed to the Department of Transport, Energy and Communications.
"I wanted to be certain that when small-minded people knew I was involved and questioned this, everything would have been done perfectly," he said.
Mr Desmond also criticised the line of questioning by the inquiry's legal team with witnesses by seeking to suggest that there was something "less than kosher" about IIU's role in the consortium. He pointed out that it would have been "simply untenable and incredible" that he would have informed the department by letter on IIU-headed paper in September 1995 if he wished to hide it.
Asked by tribunal barrister John Coughlan SC if there was a sensitivity about his Esat involvement because of his controversial role in the sale of the former Johnson, Mooney & O'Brien bakery in Ballsbridge to Telecom Éireann years earlier, Mr Desmond said: "Not in the slightest. In fact, I was delighted with my name being up there."
In a statement at the start of his evidence at Dublin Castle, Mr Desmond said he had initially no intention of getting involved in the licence bid as it was something "which might not be awarded purely on merit".
He first discussed a role in the consortium with Denis O'Brien during a trip to a Celtic match in August 1995 several weeks after Esat had submitted its application.
Mr Desmond said the Esat founder was concerned the one area of weakness in the bid was finance.
"Denis may be a Goliath now but he was a David then and I like helping the Davids of this world."
