Byrne claims banks knew he was using false collateral

Former solicitor Thomas Byrne has alleged at his €52m theft and fraud trial that some banks knew he was using invalid collateral when they granted him loans.

During cross-examination Mr Byrne said the financial institutions were either aware or did not care that the properties he used as collateral had been already been promised to other banks.

Mr Byrne, aged 47, of Walkinstown Rd, Crumlin, Dublin, is accused of theft and fraud offences totalling €51.8m. The charges allege he transferred clients’ homes into his name and used them as collateral for property loans.