Mr Lynn, who is 53 and has an address at Redcross in County Wicklow, has pleaded not guilty to 21 counts of stealing a total of almost €30m from financial institutions in 2006 and 2007.
He said the money would then be sent to his property company Kendar Holdings when cashflow requirements were identified.Asked by Judge Martin Nolan to clarify his evidence, Mr Lynn said the banks permitted him to utilise these monies for property development abroad.He added that this permission was ongoing for two years leading up to the period of time the charges he faces relate to.
He said the process of actually registering a property could take up to a year and he made this arrangement with banks in relation to properties he intended to sell quickly.Mr Lynn said a solicitor’s undertaking was a"serious document" which meant a solicitor was obliged as a professional to register the charge over the property and protect the interests of the bank.
He said this could result in a complaint to the Law Society and a solicitor would end up being struck off if they continued to breach undertakings.
Needs to do a lot of time. people have been jailed for no tv licence !!
Why did he go on the run if he was innocent.
Oh, may God forgive him! The lies out of that fellow's mouth. Does he EAT with that mouth?