Nama private sale of assets ‘stinks’

The practice of Nama privately selling assets without putting them on the open market “stinks”, according to Fianna Fáil finance spokesman Michael McGrath.

He urged Finance Minister Michael Noonan to end the practice and carry out a “root-and-branch” investigation of procedures at the state agency, which Fianna Fáil established.

Mr McGrath made the comments in the Dáil when raising the case of a former Nama executive now under investigation by gardaí. Enda Farrell purchased a five-bedroomed house from the agency’s portfolio in a private deal without the property being placed on the open market.