Cooper Flynn statement delivered to the Dail

The following is the full statement of Ms Beverley Cooper Flynn to Dáil Eireann:

The following is the full statement of Ms Beverley Cooper Flynn to Dáil Eireann:

On Friday last, February 6th, a television station ran a story, apparently based on leaked material about matters due to be dealt with by the Mahon tribunal next month. The two central people in the story were my father, Padraig Flynn, and myself. I was not given prior opportunity to respond before that broadcast.

Following the broadcast very serious allegations have been made against me, that I assisted Padraig Flynn with tax evasion and/or set up a bogus non-resident account.

On Friday, February 5th, I issued a press statement denying any personal wrongdoing, but the negative reports about me continued over the weekend of February 7th and 8th.

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In 1998 I made a declaration to the Flood/Mahon tribunal like many other TDs, senators and councillors were asked to do. I answered each and every one of the written questions then put to me by the tribunal.

None of the questions put to me in the questionnaire related to investments made on behalf of Padraig Flynn. I heard nothing further from the tribunal until December 2003.

On December 17th, 2003, the tribunal asked me whether I had any documents relating to bank accounts of Padraig Flynn and my mother, Dorothy Flynn, and I confirmed through my solicitors on December 19th, 2003, that I did not.

On January 21st this year the tribunal asked me for a narrative about my dealings with such bank accounts, which narrative has been submitted via my solicitors to the tribunal, earlier today.

In submitting that narrative, I consider that I have fulfilled my ongoing obligations to the tribunal both as a citizen and as a public representative. Any other questions the tribunal may subsequently ask I am similarly prepared to answer as fully as I can.

In relation to the recent television story and subsequent media stories about me, I confirm that the only bank accounts which I dealt with on behalf of Padraig and Dorothy Flynn were accounts that they held through National Irish Bank.

I started working for National Irish Bank on September 1st, 1989. On October 17th, 1989, I made out a report for Padraig Flynn on a sum of £25,000 which he told me he wanted to invest. He did not tell me anything else about the source of that sum, nor did I know.

In that report I suggested a number of different investment options. I recommended three investment unit trusts for consideration, namely: the MIM Britannia European Fund, the MIM Britannia Nippon Warrant Fund and Fleming's International Eastern Opportunity Fund.

All were legal investments, then and now. These companies, MIM and Fleming, were licensed and authorised to sell their products in Ireland. I accompanied the note to Padraig Flynn with the then applicable exchange control form, called an F2, which provided for notification to the Central Bank of Ireland of any transactions of that nature.

As part of that report and as already highlighted by the media, I indicated that the investments would be confidential and not discloseable by the bank to any tax authority. Secondly, I advised Padraig Flynn of exchange control requirements in relation to the investments.

Thirdly, I notified Padraig Flynn of his personal tax obligations in the following terms and I quote from that report: "In the hands of the investor there is liability to income tax on distributions and, on encashment after the investment period, the proceeds are subject to capital gains tax. Of course, it is up to the individual investor to disclose the investment to the taxing authorities." On November 22nd, 1989, Padraig and Dorothy Flynn invested the £25,000 as follows: MIM Britannia European Fund £15,000, Nippon Warrant Fund £5,000, Fleming's International Eastern Opportunities Fund £5,000. Exchange control forms were duly completed in accordance with the then Central Bank requirements. The investments were placed in the names of Padraig and Dorothy Flynn and myself, Beverley Flynn. My parents, Padraig and Dorothy Flynn, were at all times the beneficial owners of the investments. I had no beneficial interest in them at any time.

My name was included simply to allow me to take care of any alterations of the investment down the line that my parents might request. Indeed, some subsequent dealings and encashments took place over a period of time, and the fact that my name was on the account expedited that process.

I ensured that investment updates were sent to Padraig and Dorothy Flynn from time to time and I dealt with further investments by them in 1990 and 1994 in a similar fashion, supporting them with the necessary legal documentation.

When encashment of some of the investment happened in March 1993 and December 1994, my name was on the cheque, but as I have already made clear, I had no beneficial interest in the sums invested. All of the proceeds of such investment were lodged in a National Irish Bank non-resident deposit account in the names of Padraig and Dorothy Flynn and the address on that account was: Avenue Jules Cesare 17, Brussels 1150, my parents' then address in Belgium.

I had no further involvement with any of those investments and I left the bank on becoming a TD in 1997. In conclusion, in my capacity as an employee of National Irish Bank I believe that I fulfilled all my legal and ethical obligations in relation to these investments.

I did not own the funds invested. I did not personally benefit from the investments nor from the proceeds of the investments made by my parents. I did not set up a bogus non-resident account. I did not in any way engage in, or assist, tax evasion as has been alleged, and the allegations that have been made about me personally to this effect in recent days are false and unfounded.