Doubts cast on Dunlop’s foal claim

JUDGE Alan Mahon cast doubt yesterday on Frank Dunlop’s claim to have bought a thoroughbred foal from top trainer Jim Bolger for £62,000 about 15 years ago.

In earlier evidence, Mr Dunlop claimed he had forgotten about buying the horse and losing the equivalent — in today’s money, €200,000 — as a result of his 1992 investment.

The tribunal chairman said Mr Dunlop’s evidence on the transaction gave rise to “a significant degree of suspicion that warrants very close questioning” of both him and Mr Bolger.

Judge Mahon’s observations came after Mr Dunlop’s lawyer, Aidan Redmond BL, protested at the line of questioning being taken by tribunal lawyer Patricia Dillon SC.

Mr Dunlop had described how he had forgotten he owned a horse, admitting he could not say whether he had bought a horse in 1992 or “part of a horse”. The transaction had been prompted by Mr Bolger and he (Dunlop) knew nothing about horses. Mr Dunlop said he had never seen the animal and received no documentation relating to the transaction. Mr Bolger later told him the unnamed animal was fatally injured, breaking its neck in collision with another horse in 1993.

Mr Bolger had told the tribunal there was no documentation, because the animal was bred from his own stock and had no passport.

Documents shown to the tribunal record Mr Dunlop holding an asset valued at £20,000 to “Jim B” and a banker’s note listing, among the lobbyist’s assets, a share in a horse valued £22,000.

Pressed to explain this write-down of his asset, Mr Dunlop conceded the logic was that he had given £40,000 to Mr Bolger for “something else”, but he denied giving the £40,000 to Mr Bolger for onward transmission to someone else. The lobbyist claims he bought the animal from his friend, Mr Bolger, on the trainer’s suggestion, and trusted him with details.

In January 2001, Mr Bolger told the tribunal, through his solicitors, he sold a foal to Mr Dunlop for £64,000 in 1992.

Records show Mr Dunlop withdrew £40,000 from his offshore Xerxes bank account in Jersey in March 1992 and had it lodged to Mr Bolger’s bank account in Newbridge.

A second payment of £23,917.81 was made to a bank account held by Mr Bolger in May 1992.