Lowry refutes £147,000 loan improper

Former Fine Gael minister, Michael Lowry has refuted that he tried to hide or bury money in off-shore bank accounts.

The Moriarty Tribunal has questioned Mr Lowry about £147,000 which was held in an account in the Isle of Man.

Mr Lowry said that the money was a commercial loan from his late friend, David Austin.

Mr Lowry further insisted that the loan was paid back in full three and half months later with interest.

However, the Tribunal only learnt about the loan in April of this year. Despite this Michael Lowry insisted there was nothing illegal or improper about the loan.