Desmond criticises 'massive costs' of tribunal

The billionaire tax exile Dermot Desmond has strongly criticised the Moriarty tribunal and its legal team.

In a statement yesterday Mr Desmond claimed there was no evidence to support many of the tribunal's hypotheses and that the "delays" and "massive costs" involved in producing its report were "inexcusable".

Elements of Mr Desmond's strongly-worded statement are not being reported in The Irish Timeson legal advice.

In it, he said: "I would like to thank the tribunal for exonerating me and finding that I received no favours from Charlie Haughey. I am sure the taxpayers are thrilled at the nine years and millions of euros the tribunal spent to verify the information, which I issued in press statements in January 1998."

The tribunal found that Mr Desmond gave Mr Haughey two payments totalling £125,000 sterling in 1994 and 1996.

It also found that Mr Desmond paid £75,546 for the refurbishment of the Haughey family yacht, Celtic Mist, in 1990 and 1991. It did not accept Mr Desmond's evidence in relation to all three payments to the effect that they were loans. The funds for the boat came by way of two companies, Dedeir and Freezone.

The tribunal said it could not find that Mr Desmond had made no direct payment to Mr Haughey prior to 1994 as neither Mr Haughey's nor Mr Desmond's offshore accounts were accessible to the tribunal.

In his statement Mr Desmond said the tribunal had cast doubts over his motives for the payments, "not accepting that it was done out of pure friendship . . . I became a friend of Charles Haughey before he was taoiseach. He backed my ideas and those of my colleagues, and shared the same vision of a new prosperous Ireland."

Mr Desmond said he had been happy to help Mr Haughey when he was out of office "and needed help". He would have gladly given Mr Haughey a million or more, if he had requested it.

"By believing in me and by backing my ideas, Charlie Haughey did me the greatest service of all. The key point is that no favours were sought and none were received."

He said Mr Haughey was totally committed to bringing prosperity to Ireland. "I never witnessed corrupt practices."

He said nothing rested on whether the money was deemed a gift or a loan. He said it was not surprising that most people who, like him, live outside the country, have bank accounts outside the country. He said he pays money from where he has his accounts.