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Lynn ‘admitted responsibility for borrowings’

Former solicitor Michael Lynn previously admitted he was responsible for his multi-million-euro borrowings with a number of banks, his trial has heard.

Mr Lynn (55), of Millbrook Court, Redcross, Co Wicklow, is on trial accused of the theft of around €27 million from seven financial institutions. He has pleaded not guilty to 21 counts of theft in Dublin between 23 October 2006 and 20 April 2007.

It is the prosecution’s case that Lynn (pictured) obtained multiple mortgages on the same properties, in a situation where banks were unaware that other institutions were also providing finance.

Lynn ‘accepted he received benefit of monies’

Today (13 November), Detective Sergeant Ger Coomey of the Garda Economic Crime Bureau told Karl Finnegan SC, prosecuting, that he was present in court when Lynn gave evidence on the last occasion.

He agreed with prosecution counsel that, under cross-examination in the witness box, Lynn “admitted he was responsible for the borrowings”.

“He accepted he received the benefit of the monies?” Finnegan asked.

Det Sgt Coomey agreed.

The trial heard that Lynn previously told the court: “They were my borrowings. They were my responsibility with the banks.”

Lynn ‘put forward a defence’

Under cross-examination from Mark Lynam SC, defending, Det Sgt Coomey agreed that the purpose of him giving this evidence was “so the prosecution don’t have to go through the evidence” – and that the defence had agreed to this.

“[Mr Lynn] said a lot more than just ‘I got that money’, he put forward a defence,” Lynam said.

The detective agreed.

Lynam told the court that Lynn would be giving evidence in this trial, and that the jury “will hear his full account”.

The trial continues before Judge Martin Nolan and the jury.