Former First Minister Peter Robinson, DUP MP Sammy Wilson, former finance minister Simon Hamilton and DUP SPAD Richard Bullock are all set to give evidence
A jury was today sworn to preside in the NAMA trial.
Two prominent businessmen have been charged with a range of offences related to the sale of a loan book held by Ireland’s National Asset Management Agency which was set up by the Irish Government to deal with toxic property loans after the Republic of Ireland’s banking crisis in 2008.
Ian George Coulter, 54, from Templepatrick Road in Ballyclare, and 81-year-old Frank Cushnahan of Alexandra Gate in Holywood appeared at Belfast Crown Court where a jury was sworn.
Madam Justice McBride told the nine men and three women that the trial is expected to last up to 12 weeks.
Regarding Cushnahan, the Judge described him as “a businessman involved in corporate finance throughout his life” who has been charged with two counts of fraud.
She said these charges were one offence of failing to disclose information and a second offence of making false representations – the latter of which he is jointly charged with co-accused Coulter.
The two charges span a period from April 1 to November 7, 2013.
Turning to Coulter, Madam Justice McBride said he was a “solicitor by profession” and was the managing partner of Tughans Solicitors who is now working for a different company.
The Judge said he was charged with two counts of fraud, one jointly with Cushnahan, as well as making/supplying articles for use in fraud, removing criminal property and transferring criminal property.
The five charges faced by Coulter are over a timeframe of April 3 to December 1, 2014.
Madam Justice McBride told the jury the charges were “to do with the sale of bank debts by the National Assessments Management Agency, or NAMA, and in particular debts that were secured against properties in Northern Ireland.”
Following this, a Crown prosecutor read a lengthy list of who will be witnesses or who the jury will hear about during the course of the trial.
This, he said, included former First Minister Peter Robinson, DUP MP Sammy Wilson, the former finance minister Simon Hamilton and DUP SPAD Richard Bullock.
Other key witnesses and key bodies which will feature include the National Crime Agency, staff from Tughans Solicitors and representatives from NAMA in the Republic of Ireland.
Madam Justice McBride told the members of the jury they will all be given iPads and that training will be provided tomorrow morning.
She added that after the training, the Crown’s case against the two accused will be opened by Jonathan Kinnear KC.
Before letting them go for the day, Madam Justice McBride warned the 12 jurors not to conduct any research or discuss the case with anyone.
She then asked them to return to court on Tuesday morning for iPad training followed by the commencement of the trial.
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