1. v1 Irish Mail on Sunday JANUARY 3 • 2010
8
The banker who secretly
played developer, lending
millionsto hispartner
IT IS symptomatic of the reckless disre-
ByMichael O’Farrell
gard for regulations that led to our eco-
nomic misery and mass unemployment. INVESTIGATIVE CORRESPONDENT
A top bank executive worked hand in
glove with a developer on secret property Wynne just wants to ‘put it all behind him’,
deals that would eventually collapse. Mr Bennett is actually suing his former
Senior commercial lender at Bank of Scot- associate for facilitating the massive loans,
land Tony Wynne okayed millions of euro to claiming he was given bad advice.
a business partner for developments they A one-time manager of snooker player
both were involved in, the Irish Mail on Sun- Jimmy White and a friend of Rolling Stone
day can reveal. Ronnie Wood, Mr Bennett is also a first
Mr Wynne lost his job when the bank cousin of jailed gang boss John Gilligan.
realised he was offering mortgages to When Bank of Scotland realised the extent
Lucan-based developer Eddie Bennett. The of the joint property owned by Mr Bennett
bank first queried the relationship in 2005 and Mr Wynne, it launched an investigation.
when Mr Wynne’s superiors found he Mr Wynne quit before the conclusion of
owned property with Mr Bennett. the inquiry that also focused on two other
It has since been forced to initiate High senior lenders no longer with the bank.
Court action to repossess one-third of the Mr Bennett, who drove a convertible Fer-
units at one Dublin apartment complex rari also funded by Bank of Scotland, relied
funded by its money and jointly owned in heavily on his association with Mr Wynne to COURT
part by Wynne and Bennett. obtain funding for a number of develop- ACTION: The
And the MoS has learned that while Mr ments. Once built, many of the apartments Orchard complex
were bought with Bank of Scot- n Clondalkin.
land mortgages by friends, Right, Eddie Bennett
employees and relatives of Mr
Bennett. Others were joint- as joint owners of the
owned by the pair but funded seven apartments in
with First Active loans. Clondalkin. But Mr
An MoS analysis of The Bennett said he had
taken over complete
ownership only last
‘Now he is suing his Tuesday.
Documents show a
half share of each of
former associate’ the seven apartments
was transferred to Mr
Wynne by Mr Bennett in
Orchard, a block of 22 apart- August 2005, just after
ments built by Mr Bennett in QUIT DURING INQUIRY: Top Bank of Scotland gave
Clondalkin, Dublin 22, reveals lender at the bank Tony Wynne the other 14 apartment
that Bank of Scotland funded the owners loans of €270,000
2002 purchase of the site by Mr said that Mr Wynne had now each.
Bennett for €380,000. It also pro- relinquished ownership of all of All the Bank of Scotland
vided mortgages for nearly all of properties. He said: ‘I’ve put that mortgages used to buy the
the completed homes. behind me now. I don’t want to 14 apartments were only
Now, one-third of those units comment at all about it.’ registered in 2008 although
are subject to repossession Mr Bennett is also suing Mr the owners took possession
orders, while seven are still listed Wynne, claiming he had relied on in 2005.
as owned by Wynne and Bennett. him for financial advice on his Similarly, a First Active
Both acknowledged to the MoS projects. ‘We did everything he mortgage on the seven units
that they had jointly owned prop- asked,’ said Mr Bennett. owned by the pair since the
erties including a house in Dods- ‘But he should not have been in summer of 2005 was not reg-
borough, Lucan, apartments in business. He should have stuck istered until 2008.
the Orchard, plus a further site to his code of practice.’ Land reg- michael.o’farrell
in Clondalkin. However, they istry records still show the pair @mailonsunday.ie
Dentist who assaulted a
nurse is free to practise
A DENTIST who sexually assaulted a
trainee nurse is still free to practise By Warren Swords
after the Irish Dental Council failed
to remove him from its register. specific details of the meeting are
The council said that it has not confidential.
taken any disciplinary action despite It is believed that because the
discussing the case last month. offence committed by the dentist
It said it is prevented from taking was a summary – decided by a judge,
action against the Cork dentist at not a jury – and not an indictable
present. conviction, the council cannot
In November, the middle-aged consider the matter until a formal
dentist, who cannot be named for complaint has been made. As of yet,
legal reasons, appeared in Cork no complaint has been made to it.
District Court on three charges of The council is due to meet in
sexual assault. Judge Tim Lucey February when the issue will be
dismissed two of the charges but discussed again but, until such time,
convicted the dentist for opening five the dentist is free to work on
buttons on the nurse’s shirt. members of the public.
The council is required by the State A spokesman for the council said:
to maintain the register under the ‘This incident is of concern to the
Dentists Act, 1985. IDC and was considered at its last
The case was discussed by the meeting. The IDC is also co-
council on December 11 but the operating fully with the gardaí.’