Bankers deny Michael Lynn's 'ludicrous' secret deals claim in €27m theft trial

One banker told the court an allegation by Mr Lynn that he received money from him was “categorically false”.

Michael Lynn (pictured) has told his trial that the banks were aware he had multiple loans on the same properties and that this was “custom and practice” among bankers in Celtic Tiger Ireland. File picture: Collins Courts

A number of bankers have told the multi-million euro theft trial of former solicitor Michael Lynn that he did not have permission to use loan money for alternative purposes, with one witness describing the suggestion as “ludicrous”.

Mr Lynn, of Millbrook Court, Red Cross, Co. Wicklow, is on trial at Dublin Circuit Criminal Court accused of the theft of around €27 million from seven financial institutions. He has pleaded not guilty to 21 counts of theft in Dublin between October 23, 2006, and April 20, 2007.