Claim ex-bank chairman was director of firm

THE former chairman of Bank of Scotland (Ireland) Phil Flynn, was — it has been alleged — a director and shareholder of the money-lending business operated by one of the accused in the Ted Cunningham money laundering trial.

Tom O’Connell, prosecuting, suggested to the jury in his opening remarks that the company, Chesterton Finance, was an unregulated money lender at which Irene Johnson and Ted Cunningham were directors.

He also alleged Phil Flynn had also become a director and 10% shareholder.