Goodbody used haven ‘to save clients millions’

GOODBODY Stockbroker routed its clients’ money through a Caribbean tax haven in an effort to save millions of euro in stamp duty, according to the Financial Regulator.

It was claimed that the extraordinary share dealings which involved routing AIB shares through a company based in the island of Nevis, “was designed to maximise stamp duty reclaim”.

Representatives from the Regulator’s office appeared before the Oireachtas Committee on Economic Regulatory Affairs yesterday to answer questions on alleged money laundering involving AIB and its stockbroker subsidiary, Goodbody.