Criminal prosecutions against 19 'unlikely'

THE director of corporate enforcement says criminal prosecutions against the 19 individuals named in the inspectors' report into tax evasion and overcharging at National Irish Bank are unlikely.

Paul Appleby said discussions about prosecutions will begin between his office and the DPP in the next couple of weeks, but it was more likely that those named in the report, including former chief executives Jim Lacey and Barry Seymour, would face civil action. He added that he was not ruling out criminal proceedings.

Under the Companies Act, Mr Appleby's office could prevent those listed in the report from holding the directorship of a company in Ireland. He said yesterday the confessions obtained by the inspectors could not be used in any subsequent criminal trial.