Lawyer: Thomas Byrne ‘has effectively admitted’ fraud

Former solicitor Thomas Byrne has effectively admitted to defrauding the banks out of €52m, the prosecution said at the closing of his trial.

In his closing speech on day 22 of the trial, Remy Farrell SC said Mr Byrne has offered no defence to allegations that he lied and used fraudulent documents to obtain loans from six financial institutions.

Mr Farrell said the case brings to mind a phrase he once heard: “You wouldn’t believe the radio in that fella’s car.”