NAMA was back in the Commercial Court division of the High Court yesterday in its case against former employee Enda Farrell and his wife Alison Kramer (Alice Kramer). Reporting in the Independent today claims that NAMA’s investigation into the alleged unauthorized removal of confidential information by Enda, is now concluded – it started in August 2012, days after NAMA started investigating the sale of the property in Lucan to Enda. A complaint was made to An Garda Siochana on 12th September 2012, and the Independent today reports that NAMA “has begun handing over emails discovered during its biggest ever internal investigation to the garda fraud squad”
The Independent reports that “last night NAMA was for the first time free to begin sharing findings from its internal investigation with garda Bureau of Fraud officers who will investigate the case”
It is not clear from the Independent’s reporting why NAMA has “only begun” handing over emails to the Gardai and why it can only “now” share findings, given that the initial complaint was made by NAMA to the Gardai on 12th September 2012. Is this the sort of shoddy journalism, the Irish Times is addressing when it claims to bring us the “story of why”?
NAMA is reported to have sought a number of orders in court yesterday, but the Independent doesn’t elaborate on these orders, save to say that Enda and Alison (Alice) consented to the orders.
As regards the removal of the information by Enda and its transfer to at least 15 individuals and firms, NAMA is reported to have obtained injunctions against these individuals and firms stopping the information being spread or used, and the recipients of the information have all assured NAMA that they won’t act on the information contained in the emails and they will preserve and keep confidential the information – let’s hope NAMA got them to cross their hearts and hope to die on those assurances which are likely to mean little, if anything, to NAMA’s debtors.
Bizarrely NAMA is reported to have told the court that it is not pursuing a damages claim against Enda and his wife. This follows on from NAMA’s claim that it has not sustained significant damage from the incident. NAMA’s debtors might still be scratching their heads at that claim.
But at least NAMA is claiming its legal costs from Enda and Alison and there is to be a hearing next week on the matter. Presumably, NAMA will be absorbing the bill of the internal investigation which will not have been cheap. Those charged with overseeing NAMA will be scratching their heads at that state of affairs.
So, it looks as if NAMA’s legal case against Enda and Alison is coming to an end. But Enda still faces a Garda investigation and the possibility of a €5m fine or up to five years in prison (or both!). There was a also a complaint to the Data Protection Commissioner. NAMA’s developers will be monitoring progress on both investigations.