Flynn's resignations 'not forced': Taoiseach

An Taoiseach Bertie Ahern today revealed the former vice president of Sinn Féin Phil Flynn had not been forced to resign his three high-profile board positions in the public and private sector.

Mr Ahern said it was a decision the Government’s chief trouble-shooter had taken of his own accord.

“He felt it was the right thing to do,” the Taoiseach said. “It was a matter for Phil. I hadn’t got around to consider it because you know we hadn’t got any reports back from the guards on these matters.

“Phil would be a person who was very experienced in public administration, trade unionist administration and the financial world. Phil felt this was the right thing to do.

“For my part I just note what he did and what he has said and thank him for the work he has done.”

Mr Flynn became the first high-ranking casualty of police investigations into an IRA money-laundering ring when he stepped down as chairman of the Bank of Scotland in Ireland.

He also resigned as head of the Government’s decentralisation committee and as board member of health insurer VHI.

The 64-year-old businessman and former trade union leader was a non-executive director of a Cork-based financial company at the centre of a major money laundering probe.

Mr Flynn has said that he was shell-shocked by the scale of events.

He conceded that it appeared strange that he had been involved with the struggling finance firm.

Members of the Criminal Assets Bureau have questioned Mr Flynn over his involvement with the Cork-based finance business.

Ted Cunningham, 57, director of the company, was released from garda custody without charge today after two days of questioning.

Around £2.3m (€3.3m) was recovered from Mr Cunningham’s bungalow in Farren, 15 miles from Cork city.

Detectives are continuing to examine whether the money has any link to a suspected IRA money-laundering operation.

Meanwhile, gardaí are continuing to question a man in his forties who was arrested yesterday evening at a house in Passage West, Co Cork.

Officers detained the man following a tip-off that money was being burnt in the back garden of the house. A search of the house discovered ammunition for AK47 assault rifles.

The man is being held at Gurranabraher garda station under Section 30 of the Offences Against The State Act.