O'Neill reviews Ahern's personal finances

Personal savings: At the outset of the latest appearance of the Taoiseach at the tribunal, tribunal counsel Des O'Neill SC reviewed…

Personal savings:At the outset of the latest appearance of the Taoiseach at the tribunal, tribunal counsel Des O'Neill SC reviewed the evidence concerning Bertie Ahern's financial position in December 1993.

Mr Ahern had £54,000 in cash savings in safes in St Luke's and in the Department of Finance. This was sufficient to cover his immediate cash needs at the time and leave a surplus, he said.

At the time Mr Ahern had just concluded legal separation proceedings with his wife. He had agreed to pay £5,000 towards his wife's legal fees, had legal fees of his own of £12,813 and had agreed to pay off a car loan of £1,302. He has also agreed to put £20,000 to an educational fund for his daughters. That came to £39,115.

However, despite having a surplus, Mr Ahern took out a loan of £19,115 with AIB in December 1993. Asked why he took out the loan, Mr Ahern said he wanted to keep some of his savings to put towards arranging accommodation.

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Mr O'Neill said the late Gerry Brennan had represented Mr Ahern in his separation agreement and knew the details of his personal finances. Although the amount needed to settle the legal bills was £17,813, Mr Brennan approached friends and collected £22,500. Mr Ahern said he would only accept it as a loan.

Mr O'Neill said the amount included £15,000 in cash though none of the cash donors had any documentary evidence of their contribution. The remainder was a cheque from Willdover Ltd for £2,500 and a draft made out to Des Richardson for £5,000. Mr O'Neill said Mr Ahern was told that the Willdover cheque was Mr Richardson's contribution and the draft was a personal contribution from then NCB managing director, Padraic O'Connor.

Mr Ahern was not told the draft had been bought by Mr Richardson or that he had used funds from a deposit account in the name Roevin Ireland Ltd.

Colm Keena

Colm Keena

Colm Keena is an Irish Times journalist. He was previously legal-affairs correspondent and public-affairs correspondent