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THE NATIONAL ASSET Management Agency is seeking to hire private detectives in a bid to ensure that its debtors are not keeping some assets hidden from their view.
The ‘bad bank’ has issued a public advertisement seeking to put together a “panel for the provision of credit verification services”, who will be tasked with ensuring that some of the State’s most indebted people cannot hide wealth beyond NAMA’s view.
Those detectives will be hired “to assist NAMA verify the accuracy and completeness of disclosures made by NAMA debators.”
The move is the agency’s latest attempt to ensure that developers – some of whom owe the company hundreds of millions – do not hold assets elsewhere of which NAMA is unaware.
NAMA has already asked its main debtors to file sworn statements outlining their assets and liabilities – meaning any evidence that these affidavits are false could result in the agency seeking major sanctions in the courts.
The investigators are likely to be focus on assets or ventures in other countries, or any assets which may have been transferred into the names of debtors’ spouses or family members.
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Why? Is the Criminal Assets Bureau to busy?
One assumes you need to be a (convicted) criminal in order for the CAB to be called in…
To be frank, this is a better option. The C.A.B. are still made up of Guards, and they may be also open to political manipulation and strokes like the rest of the force.
This is too serious to trust to them.
Who doubts that if the team investigating the Anglo Irish debacle was allowed get on with it, that the investigation would be closed by now. Have no doubt that the many many senior Guards that were appointed by FF because they were onside, are being connected on the sly to ensure that it is stymied at every turn.
Or the Gardai don’t have people with forensic accounting skills ?
Debt collection and enforcement are civil matters and therefor not within the remit of the Garda.
Hiding assets when declaring bankruptcy is fraud and therefore a criminal offense.
First you have establish that that is the case, hence the use of private investigators.
This is really weird. So the Gardai are precluded from investigating whether a criminal offence has occurred and can only proceed if that has been established by another agency?
Fraud is rampant in ireland but the powers that be do not acknlowedge this , they like to call it an error ,you try and bring somebody to court in this country for fraud and see where it gets you they cannot convict a white collar criminal for fraud because its set a precedent for future cases does have a look at some of these cases click on VICTIMS AGAINST THE LEGAL PROFESSION ,every institution in this country is working for the individuals who are on the inside ,
John, the Gardai can and will investigate if they think a crime has been committed in this jurisdiction. NAMA are hiring investigators to check if Affidavits by debtors in relation to assets are truthful, secondly to find undeclared assets(if any) and thirdly to see if assets are being disposed of contrary to court orders.
Thanks Peter. I’m clearer now.
Mr Henchin – the slant you put on our Garda Siochana is absolutely disgraceful. What does one expect from a Shinner. You still sore our Gardaí recovered the stolen cash from the NIB robbery a few years back ? Even a former Taoiseach ( although a disgraced one ) believed SF/IRA were behind it. And you come out with that outrageous disparaging slant towards our country’s Gardaí. In Ireland we have a thing called due process & every person is deemed innocent until proved guilty. If it takes private detectives experienced in financial matters to get to the bottom of it, I’m all for it. You come out with the same anti establishment nonsense on threads dealing with politics, the Gardaí, banking to name a few. What are you ? Chief propagandist for SF/IRA ? Didn’t you use to post under the name of Tony Stamper ? Your comment is disgraceful & contributes nothing to the story at hand.
I think we should literally BURN the bond holders, just a suggestion!!!
WTF has that got to do with this story
Just putting it out there as a general solution to the mess we are in!!
That would be like throwing water on a fat fire !
I agree, and burn the developers too!!!
Tim, Ur talking rubbish… Too serious to trust the guards my backside… Going by your other comments you have an agenda against garda for some reason known only to you .. What would you prefer some ‘get smart’ character on the case..it will only be retired guards getting it anyway… Oh and gavan the proceeds of crime act 1996 says you don’t have to have being convicted of a crime for your assets to be taken
Well said Bourne
True but going broke is not a crime, and unless they broke criminal laws in accumulating wealth cab has no jurisdiction
Yes, Jason. Mr Henchin’s disparaging slant on the Gardaí is disgraceful. But – what does one expect from a Shinner. I’m all for private detectives experienced in financial & fraud matters doing a bit of digging if it gets to the bottom of where all the money went.
So has NAMA just been accepting the word of debtors up to now? Developers have had a few years headstart to hide assets at this point.
That would imply that most of them were smart enough to have assets that were never included in asset statements to banks during the good times.
Most of them didn’t see the bust coming so have hidden feck all.
Of course there will be odd case where stuff will be found
Is there any reason why we can’t implement a law with a 50 year mandatorty sentence for non-compliance with nama? Give them 3 all months to come clean or lock them up forever. I suppose that would be too much like justice.
Tip: Try Zurich. These guys are so behind the curve, it is keystone cops territory.
Swiss bank accounts ain’t what they used to be!
There will be lots of Dicks applying for these jobs….
Punishment has to be reasonable in comparison to other crimes, why torture<rape<child molestation<murder even thought most of the public could only forgive a person who did the last one. We have a strange relationship with 'just punishment' and crime in this world.
NAMA are a pack of sluts. No Sleuths I mean, sleuths…
Collective thinking and pooling resources to seek out and close loopholes(tax avoidance) and demand the wealthy to stay here-or sod off with their ‘gains’ stop dragging their heels in potential criminal trials-curb the lawyers fees!..and jail for long periods the ‘big boys’ and tighten up on their escape routes into and out of Ireland..will all the above happen-will Santa come in the shape of enda Kenny-I’m dreaming of a white Xmas more like!!!!
Call in Clouseau…he’ll find ‘em. I wonder…if they find all this hidden money will they then employ the developers to oversee the refunding of these monies and pay them a further 200k a year to supervise the shit they influcted upon s?
”NAMA to hire private detectives to hunt down hidden riches”
Start by looking in your own bank accounts.
With salaries of €500k a year there should be a few quid left in there.
If NAMA need detectives to do the work what do they want all the staff for????
Well done Brendan mcdonagh. Give the crooks 3 years to hide their assets then make yet another meaningless announcement.
You are incompetent and you should be sacked.
Nama couldn’t catch a cold. Useless sh1tes. How long now since they were established?
In conclusion, this is an “only in Ireland” story.
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