€185m ‘poured down drain’ by docklands authority, PAC hears

Over €185m of taxpayers’ money was “poured down the drain” in property speculation by a quango, TDs have heard.

As the Dáil’s Public Accounts Committee probed the Dublin Docklands Development Authority, the State’s financial watchdog, Comptroller and Auditor General Seamus McCarthy, strongly criticised the way the body did business.

Mr McCarthy said that the authority’s record-keeping in the past had been “ambiguous” and that he would have expected such records to be “clearer”.