NIB slapped with €64m bill

NATIONAL Irish bank has been hit with a total bill of €64 million after a devastating report revealed widespread tax evasion and overcharging at the bank.

Regulatory authorities have also vowed to take civil action to prevent some of the implicated former management team from becoming company directors in the future.

Former Fianna Fáil TD Beverly Flynn and former NIB chief executive Jim Lacey were among the high profile figures criticised in the six-year investigation into the bank’s activities in the 1980s and 1990s.