Fraudsters using Irish passports to escape justice - Labour

International fugitives are using Irish passports to avoid being tried for serious criminal offences, it was claimed tonight.

The Labour Party said the passport holders included a British businessman and another from the Czech Republic wanted on separate charges of fraud involving hundreds of millions of euros.

Justice spokesman Joe Costello said justice minister Michael McDowell should immediately introduce legislation to revoke the passports, which were granted under the “passports for investments” scheme in the early 1990s.

“This diminishes the reputation of the Irish passport and may create an impression that Ireland is some sort of safe haven for international crooks,” he said.

This week, the Czech Republic announced its intention to extradite businessman Victor Kozeny from the Bahamas.

Mr Kozeny – nicknamed “The Bouncing Czech” and the “Pirate of Prague” - is accused of defrauding thousands of small Czech investors of around €240m in the early 1990s.

He is also wanted by the US authorities on charges of embezzling more than €149m from investors.

His Irish passport, which was issued in 1995, is allowing him to remain in the Bahamas.

Mr Costello said: “It’s the Irish passport that’s keeping him afloat. It was a very good investment from his point of view, but the Irish Government didn’t seem to do any sort of background checks.”

Another businessman who was granted an Irish passport, British-born Sheridan Cox, is wanted in connection with stock market fraud charges in Taiwan.

The passports for investments scheme was cancelled in 1998 and the legislative loophole which permitted it is due to be closed off in forthcoming citizenship legislation.

A spokesman for Mr McDowell said: “The minister has committed himself to bringing forward an amendment to ensure that no such scheme can be introduced by any future government. The proposals are being framed in consultation with the Attorney General.”