Disgraced solicitor Lynn to face fraud charges

Fugitive ex-solicitor Michael Lynn has been warned he cannot hide behind legal extradition loopholes and will be brought back from Brazil to face €80m property investment fraud charges.

Justice Minister Alan Shatter confirmed that the disgraced Irishman, who was struck off the solicitors register in 2008, could be brought back to Ireland over the coming weeks after top-level Government discussions.

Mr Lynn, aged 43, from Co Mayo, was arrested on Thursday night in Pernambuco, north-east Brazil.

He is facing charges of €80m worth of property investment fraud related to multiple mortgages on 180 buildings, which damaged numerous financial institutions and cost individual investors tens of thousands of euro.

While Ireland has no extradition treaty with Brazil, Mr Shatter said the countries “treat extradition requests from each other on the basis of reciprocity”.

As such, certain extradition requests can be allowed on a case-by-case basis, meaning that Mr Lynn will have no choice than to return if the Brazilian justice system feels the move is warranted.

The case is further complicated by the fact that the 43-year-old is a citizen of Brazil because his 2-year-old son was born in the South American country.

However, Mr Shatter said he is confident the disgraced solicitor will be brought back to Ireland to face justice.

“Mr Lynn is now facing extradition proceedings there [in Brazil],” Mr Shatter said.

He had been on the run since fleeing Ireland in 2007 after a number of fraud-related charges claiming he owes €80m to financial institutions over property investments were made against him.

Mr Lynn initially escaped to Portugal, Hungary, and Bulgaria, before travelling to the US and eventually resettling in Brazil.

In his wake, he left €80m in debt due to multiple mortgages taken out on 180 properties, individual investors who, in some cases lost tens of thousands of euro.

The Law Society itself was left facing millions of euro in unexpected debt.

Gardaí have attempted to meet in the past with Mr Lynn to negotiate a deal for his return.

However, despite the fact the High Court issued a warrant for his arrest two years ago, the ex-solicitor has continued to escape a court hearing.

While the 43-year-old has previously claimed he will “not be made a scapegoat for corrupt bankers”, Law Society director general Ken Murphy said his arrest is a vital step forward to resolving the issue.

“Michael Lynn has cost the solicitors’ profession quite a lot of money, millions of euro, but there is also a cost in reputational terms for his dishonest actions,” Mr Murphy said.

“There was a €2m fine, a net payment to his clients of €2.5m, and very substantial additional costs.

“He says he was a victim, but this form of self-serving analysis he was peddling can be seen for what it is,” Mr Murphy added.