Auctioneer 'made large profit for no investment'

The Flood Tribunal has been told that prominent Dublin auctioneer John Finnegan never made any investment in property deals from which he made more than £200,000.

The inquiry heard today that Mr Finnegan was the selling agent for properties in Donnybrook and Blackrock, Co Dublin.

He was also a beneficial owner of the properties. Both properties were bought by builders Tom Brennan and Joe McGowan.

The tribunal is attempting to establish how and why Mr Finnegan made so much money for no apparent investment.