A list of the people and firms involved Category A, Nos.75-147
75. Mr Patrick McCarroll, deceased
Mr McCarroll was an architect who often worked abroad during his career. He lived in Dublin from 1995 until his death in 2000.
An unheaded statement in December 1990 showed a balance of £25,939.92 in an off-shore account. In evidence given shortly before his death, Mr McCarroll told the inspectors he asked Guinness & Mahon to set up an off-shore account before he began work in Sudan in 1978. He said he believed he would have non-resident status and would not have to pay Irish tax.
At first he believed the funds were in Guernsey but, when shown documentation, accepted that they were with GMCT. The inspectors said it would appear that the funds were deposited in Ansbacher without his knowledge. His solicitors said the suggestion that he was an Ansbacher client was "perverse" and if he was a client, it was without his knowledge.
76. Mr Liam McGonagle, deceased
Mr McGonagle was a well-known solicitor, practising as a partner in a Dublin legal firm. He was also involved in property investment. He died unexpectedly in November 1999.
The inspectors found many apparent contact points between Mr McGonagle and Ansbacher but some of these may have arisen because Mr McGonagle had acted for clients rather than in a personal capacity.
However, it was clear that Mr McGonagle was the beneficial owner of Camille Investments. This company sought a short-term loan from Guinness & Mahon, using a $300,000 GMCT deposit as security. Mr McGonagle's name is also on a list of borrowers from Guinness & Mahon, in respect of which back-to-back loans were sought. He also had involvement with Kinsale Yacht Charters and Beresford Investments, which used Ansbacher services. His solicitor said there was no evidence that he had a direct relationship with GMCT.
77. Mr Seán McKeon
Mr McKeon, from Howth Road, Dublin, was involved in property development and building for many years. He was a partner with Mr John Kennedy in Sheelin Homes.
In 1993 Mr Traynor's assistant sought to transfer six sums from Mr McKeon's Cayman account, including two sterling sums totalling £875,000 sterling.
Around 1986 Mr McKeon allowed a discretionary trust to be established in the Cayman Islands at the suggestion of Guinness & Mahon. His investment was in various currencies including dollars, sterling and deutschemarks.
In January 1994 he ended his relationship with Ansbacher and withdrew all his funds, using them to make a payment to the Revenue Commissioners under the tax amnesty.
78. Mr Thomas J. McLaughlin, (deceased)
Mr McLaughlin, late of Pembroke Road, Ballsbridge, Dublin 4 was a businessman who died on January 3rd, 2000.
An Ansbacher account balance of £353,240 was recorded in December 1992. Mr McLaughlin was involved with another person in buying a property in Portugal through Ansbacher, using a trust mechanism and a Cayman Island company. He also entrusted a substantial sum of money to Mr Des Traynor to be put on deposit. This was done through Ansbacher and Hamilton Ross.
Mr McLaughlin's representatives said he had not known that the funds were with Ansbacher until after Mr Traynor died. They also submitted that fund was provided from after-tax gains and tax-exempt income. Mr McLaughlin voluntarily made contact with the Revenue Commissioners when he became aware of the Ansbacher connection and discharged his liabilities.
79. Mr Patrick McNamee.
Mr McNamee was once deputy chief executive of Fyffes plc and is now retired.
A portion of a £100,000 bonus payment was thought to have been lodged off-shore.
A number of Guinness & Mahon loans made in 1988 to members of Mr McNamee's family and to his secretary were guaranteed by Mr McNamee. A 1990 letter from Guinness & Mahon to Mr Traynor with "Ansbacher" in the address included a schedule which the letter described as "the account details requested". Mr McNamee's name was included in the list as guarantor.
Mr McNamee said he won a £100,000 bonus from Fyffes in 1985 and the funds were lodged by Mr Padraig Collery and dispersed when needed. He assumed the funds had been lodged with Guinness & Mahon and never suspected the funds had left the country, he said.
80. Ms Susan Sheridan Mack
Ms Mack is the daughter of the late John D. Sheridan and has an address in South Golf Port, Florida.
In March 1993 the balance in a Hamilton Ross account was $212,972.14. Her lawyer told the inspectors the first their client heard of Ansbacher was in 1985, after her father's death. She started to receive distributions from an account.
"Ms Mack has no idea how she acquired her interest, but presumed that it was inherited from her father," the lawyer wrote. Ms Mack never considered herself an Ansbacher client, her lawyer said.
81. Ms Mary Maher, (nee Lynam)
Ms Mary Maher is the daughter of Mr Edward Lynam (see above).
In 1994, Ms Maher's father, Edward, instructed that his Ansbacher account by transferred jointly into the names of Ms Maher and her brother Bryan.
Mr Lynam later said this was done for convenience purposes and his children knew the beneficial interest would remain with him.
In February 1995, Ms Maher and Mr Lynam instructed that the account be closed and the funds transferred to another bank. Her solicitor has rejected the claim that she was an Ansbacher client.
82. Sir George Mahon, deceased
Sir George Mahon, from Enniskerry, Co Wicklow, was a banker and a former director of Guinness & Mahon until he resigned in 1971. He died in 1987.
His estate made no mention of any Ansbacher involvement but Guinness & Mahon records show a 1977 letter in which Sir George advises Guinness & Mahon that he expected to receive over $105,000 for the account of "Dursey".
Another memo shows that Sir George requested the purchase of $25,000 of Bank of Scotland eurodollar bonds for Dursey and that the cost should be debited to a Dursey deposit account.
83. Mr Alexander H. Major
Mr Major had an address at Union Square West, New York, but his present whereabouts are unknown.
The inspectors believe Mr Major had three loans from Guinness & Mahon in 1982 totalling $897,000 and these were back-to-back with deposits held by GMCT. By 1983, the number had grown to four. Substantial repayments were made in 1986, when the relationship appears to have been terminated.
84. Ms Augustina Russek de Malamud
Information is limited on Ms Malamud and other family members but they appear to be Californian-based business people, possibly involved in real estate.
Ms Malamud name replaced Mr Isaac Carlos Malamud's when a loan application was being renewed with Guinness & Mahon in 1989.
The original loan of $550,000 was made to three brothers, Carlos, German and Isaac Malamud in 1982. This was increased on a number of occasions so by 1984, the total due was $1.02 million.
The loans were at all times backed by a deposit of money which originated in the Cayman Islands and may have come from a trust. The Malamuds were asked to co-operate with the inspectors but no reply was received.
85. Mr Carlos David Malamud
See entry for Ms Augustina Russek de Malamud
86. Mr German Malamud
See entry for Ms Augustina Russek de Malamud
87. Isaac Carlos Malamud
See entry for Augustina Russek de Malamud
88. Joseph Malone
Mr Malone is a former director general of Bord Fáilte, director of Aer Lingus and president of Boston Plaza Court Hotel. Now resident in the US.
In the mid 1970s, Mr Traynor suggested to Mr Malone that it would be "appropriate" that he, as a non-resident, deposit money in Cayman for tax purposes. Mr Traynor opened an account on his behalf. Mr Malone lodged money by transferring it to Mr Traynor.
Documents include a note on a deposit account containing more than $600,000.
89. Ronald Markham and Jean Peterson
They are Florida residents linked to the Apgar and Markham Construction company. Present whereabouts unknown. Some $1 million was invested in a Guinness & Mahon Investment Agency account, 1996.
In the mid-1980s, Mr Markham and Ms Peterson borrowed $1 million from Guinness & Mahon, backed by a matching investment. Money was also borrowed in the name of Apgar and Markham Construction. They have failed to respond to the inspectors' correspondence and their whereabouts are uncertain.
90. John A. Masek
US businessman with interests in the oil sector. An Ansbacher deposit account in February 1984 of $1,111,527.78
Colorado-based Mr Masek received loans from Guinness & Mahon in the 1980s, individually and through a trading entity, Kelly Drilling Corporation. When contacted by the inspectors, he said he had no records or recollection of the financial dealings of Kelly Drilling. The inspectors believe that funds backing his borrowing were deposited with Guinness & Mahon.
91. Basil Mawdsley
Mr Mawdsley is a retired financial director of International Thomson Organisation, former owners of The Sunday Times newspaper and Thomson travel agent.
In sworn testimony to the inspectors, Mawdsley said he gave funds to Des Traynor in the 1970s to place offshore. He did not know the name of the institution but was aware it was linked to Guinness & Mahon. Cash from the accounts was made available to him in Britain and he occasional collected money from the London offices of Guinness & Mahon and Ansbacher.
92. Prof Anthony J. Merrett
Academic with residences in Tuxedo, New York State, Eaglewood Cliffs, New Jersey and Bruff, Co Limerick.
Guinness & Mahon deposit account, September 1977: $137,802.52. Merrett had a "business relationship" with Ansbacher through the 1970s. He received loans of at least $65,000 from Guinness Mahon Cayman Trust, backed with money deposited with Guinness & Mahon, Dublin.
93. Geoffery Miller
A director of Wicklow based packaging distributors, GB Miller & Son Ltd, he had an Ansbacher deposit account, which in December 1989 showed £107,921.51
On the recommendation of its tax adviser Don Reid, of Stokes Kennedy Crowley, GB Miller & Son's UK distributor, British Cedak, established a Channel Islands company, the name of which Mr Miller could not remember. British Cedak appointed this company as its adviser for the Irish market. Half of the commission earned by GB Miller was paid into the Channel Isle accounts.
At around the time Des Traynor left Guinness & Mahon, this account was transferred to Ansbacher.
94. Mr Jerome Morris.
A director of SM Morris Ltd, a civil engineering and road surfacing company.
Documents show an Ansbacher deposit account, December 1998 with £348,401.88
In 1976 Morris and his four brothers, who are joint directors of the family business, moved overseas earnings to a joint Guinness & Mahon account. In 1989 a discretionary trust was established in the Cayman Islands. The funds settled on the trust came from the Morris brothers GM account.
Mr Morris said the brothers did not discover that their monies had been moved to the Caymans until the late 1990s.
95. Joseph Morris
See entry for Jerome Morris.
96. Martin Morris (deceased)
See entry for Jerome Morris
97. Stephen Morris
See entry for Jerome Morris.
98. Thomas Morris
See entry for Jerome Morris.
99. John Mulhern.
Owner of cold food distributors Clayton Love Ltd. A shareholder in Century Radio, Mr Mulhern is son-in-law of Charles Haughey.
In 1983 Mr Mulhern held a 55 per cent shareholding in Clayton Love. Nestle Ltd owned the remaining 45 per cent. At that time the minority shares were transferred to College Trustees Ltd, a Channel Islands company within Guinness & Mahon.
Mr Mulhern said the transaction was arranged by Des Traynor but he did not know on whose behalf. In 1993 the College Trustee shares were sold to Clayton Love for £3.1 million. In sworn evidence Mr Mulhern said he did not know the identity of the beneficial owner, who had used the services of Ansbacher. Under oath Mr Mulhern denied any involvement with Ansbacher.
The inspectors later discovered that Mr Mulhern was the owner of a portion of the cash. When presented with details of payments from Ansbacher to Clayton Love, Mr Mulhern said the sums were a loan from Des Traynor in anticipation of a takeover deal which never materialised. His explanations were deemed "inadequate".
100. James Murray (deceased).
A Meath farmer who was a client of accountant Jack Stakelum, he had a term loan from Guinness & Mahon in May 1978 of £75,000.
In the 1970s Murray gave funds to Stakelum to place on deposit. Stakelum invested the funds in Ansbacher through Guinness & Mahon. Murray later took a loan from Guinness & Mahon to buy a farm, backed by these funds. Thereafter he began to deal directly with Ansbacher.
101. Mr William Navan Snr (deceased)
A resident of Portadown, Co Armagh, Mr Navan died in 1990. His son and daughter opened a joint Northern Bank account to administer the estate. The account received a £5,000 sterling lodgement three days after his death. This was traced to Ansbacher. Mr Navan's daughter does not know the source of the money . Inspectors concluded that Mr Navan controlled the Ansbacher account.
102. Mr Maurice and Patricia Neligan
Mr Neligan is a prominent surgeon, a founder of the Blackrock Clinic, Dublin, and director of the national cardiac surgical unit at the Mater Hospital. Ms Neligan is a doctor.
In 1986, the Neligans borrowed £90,000 from Guinness & Mahon. At the same time, they deposited an equal sum with the bank. Without their knowledge, part of this was transferred to an Ansbacher account. They closed their account in 1989.
103. Mr Olivier Nicol
A French national linked to Orbit Investments Ltd, a Cayman company involved in racehorse ownership and training.
Guinness & Mahon loan to Orbit Investments of 61,453.46 French francs.
A letter from Guinness and Mahon to Orbit Investments requests a guarantee from Mr Nicol for a number of loans. A later letter from Ansbacher to Guinness & Mahon also connects Mr Nicol to Orbit. He is mentioned on Orbit Investment notepaper with Cayman and Irish addresses.
104. Mr Michael J. O'Keefe (deceased)
An accountant and retired banker, he had an overdraft facility from Guinness and Mahon in April 1972 of £50,000. Mr O'Keefe borrowed "suitably secured" funds from Guinness and Mahon in the 1970s. In 1976, he requested Guinness and Mahon to inquire into a deposit account in its Cayman division. The inspectors concluded that he was the owner of such an account.
In 1984, Mr Traynor placed an envelope in safekeeping with Guinness & Mahon marked "GMCT re: Michael O'Keeffe".
105. Mr Maurice O'Kelly
Former joint managing director of Guinness & Mahon. A friend of Mr Traynor since the early 1950s, documents show an Ansbacher deposit account in October 1993 with £153,239.35
Mr O'Kelly owned 70 per cent of Commercial Investment Advisers, acquired by Guinness & Mahon in 1971. He gave the proceeds of the sale to Mr Traynor to invest. He told the inspectors that he did not at the time know what Mr Traynor did with the money but accepted it was lodged in a Guinness & Mahon Cayman account on his behalf.
106. O'Reilly Aerlod (Ireland) Ltd
A limited liability company established in 1985 to take over the business of the O'Reilly Aerlod air freight business.
Ansbacher lodgement, January 1991: £6,284.50
Originally owned by a Cork consortium, the company was acquired by a management team led by Mr Diarmuid Carpendale.
In January 1991, a sum was lodged to an Ansbacher account. The cheque was payable to the old company. The investigators established that the firm had not received the benefit of the funds. Company secretary Mr Desmond Turvey denied knowledge of the cheque.
Mr Carpendale later revealedthat Mr Turvey used money from the account to pay tax-free bonuses to executives.
107. Mr Diarmuid O'Reilly-Hyland (deceased)
A senior partner in O'Reilly-Hyland Tierney and Associates. Documents show a Guinness & Mahon deposit account in August 1982 with £103,436.70
In 1978 a loan issued to Mr O'Reilly-Hyland was secured on a deposit held with Guinness & Mahon in the Caymans. Further investigations revealed he held four loans and corresponding deposit accounts in the Caymans.
108. Mr Ken O'Reilly-Hyland
A retired Dublin businessman and a former member of the board of the Central Bank.After becoming a named underwriter at Lloyds in the late 1960s, Mr O'Reilly-Hyland established an offshore trust in the Bahamas. On the advice of the late John Guinness, he moved it to GMCT. The trust funds were held in GMCT in the name of Newport Agencies Ltd.
109. Mr Michael O'Shea
Mr O'Shea's partner in their legal practice, Mr Liam McGonagle (since deceased), gave fees earned by the company to Mr Traynor, who lodged them in an Ansbacher account. It was left on deposit and later divided among the four partners. Mr O'Shea received £6,243. He and the other two surviving partners told the inspectors they did not know where the money had been lodged.
110. Mr John Oppermann and Ms Eileen Oppermann
Owners of Johnny's restaurant in Malahide, 1973 - 1979.
Mr Traynor was a frequent diner at the Oppermanns' restaurant. In the mid 1970s, Mr Oppermann asked Mr Traynor for advice on where to invest money. Mr Traynor offered to invest for him. The funds were placed with GMCT. The Oppermanns continued to pass funds to Mr Traynor for some years. Mr Traynor occasionally held dinner parties at the restaurant and settled by depositing cash into the owners' Ansbacher account.
111. Pettit International Ltd.
A division of EG Pettit, a consulting engineering firm with offices in Dublin and Cork.
In 1982 the company opened an account with Guinness Mahon Cayman Trust. It was used to process overseas income. Pettit International underwent a change of ownership in 1997. The new owners told the inspectors that funds lodged to the account were exclusively generated abroad.
112. Dr Michael Phelan
A London based medic, there is evidence of a cash withdrawal from Ansbacher, July 1994: £10,000 sterling.
The inspectors did not interview Dr Phelan, who was unable to attend an interview on health grounds. In phone calls he assured the inspectors he had no information or documents relevant to the inquiry and that a meeting would be a waste of time.
113. Marily Power
Part owner of Suma Stud, Co Meath.
In 1977 a trust was established in the Caymans on Power's behalf to hold assets belonging to her in the United States. John Furze was the nominal settler. A Cayman company, Jumelol Investments, managed the trust, placing it on deposit with GMCT.
114. Fernando Pruna and Eudelia Pruna
Mr Pruna is a Cuban drug smuggler currently on parole in Miami. In December 1985 Guinness & Mahon approved a $135,000 loan to the Prunas. Deposits with Guinness and Mahon Cayman Trading backed the borrowing. A series of loans reached a total of more than $1 million. In 1993 Pruna was sentenced to 12 years for drug trafficking and attempting to bribe a witness.
115. Seamus Purcell
A company director operating in the livestock sector. In the 1980s he established Purcell Exports Ltd and Ulster Meats Ltd.
Purcell was a Guinness & Mahon client. He needed US dollars to pay overseas agent commissions. In the early 1980s Des Traynor offered to open an external dollar account on his behalf. Export earnings from the Canary Islands were used to establish a US dollar account with Guinness and Mahon Cayman Trust.
One transaction was for more than $400,000.
116. Desmond Quirke (deceased)
Mr Quirke was an executive director of CRH. In the 1980s and 1990s, Quirke made a number of withdrawals from Ansbacher accounts to pay for travellers cheques. The inspectors concluded he had made only "limited use" of offshore accounts but that he nevertheless qualifies as an Ansbacher client.
117. Jeremy Robson.
A British citizen, Robson regularly withdrew funds from Ansbacher accounts in the 1980s and 1990s. The withdrawals were always made by Guinness & Mahon in London on the instruction of GM or IIB, on the orders of Des Traynor. A memo from Traynor links Robson to the Wentworth Trust, a Guinness and Mahon Cayman Trading trust.
118. Sonia Rogers.
The widow of Captain Tim Rogers and owner of the Airlie Stud, Maynooth.
In 1988 Rogers gave the proceeds of two insurance policies to Des Traynor to fund the education of her children. She said she did not know where he had lodged the money. She believed that cash she later received from an Ansbacher account were repayments of the initial sum. An Ansbacher employee, Padraig Collery, told the inspectors that Rogers was the beneficial owner of part of the funds held in a Cayman account.
119. Capt. Tim Rogers
A well known stallion owner and stud farmer, Capt Rogers died in 1984. His widow Mrs Sonia Rogers (above) gave evidence to the inspectors. She said that after her husband died Des Traynor told her he had set up an offshore trust for her benefit and that of their children. She later learned it was in the Cayman Islands. The total would eventually reach some £2 million.
120. Mr John Savoy
The inspectors say Mr Savoy appears to be a resident of the US. He was an officer in a Florida-registered company which had a loan from G&M in the 1980s ($242,000) backed by funds held by G&M, which the inspectors believe were beneficially owned by him.
121. Schwartz Management Company
Schwartz Management Company, registered in Delaware, US, is a financial management company which also deals in metal products. In the 1980s it had a loan from Guinness & Mahon of $10.3 million - the largest loan on the bank's books - which was backed by a deposit in GMCT. The president of the firm, Mr Ben Schwartz, died recently.
122. Mr Joseph Seeley
Mr Seeley was a director of a number of Irish-based companies, including Westward Cables Ltd, Westward Horizon Ltd, Horizon Distribution Ltd and Histon Securities Ltd. The inspectors say a Guinness & Mahon internal document detailed a facility in the name of Histon Securities (a loan of £119,000 an a £20,000 letter of credit) advanced in connection with the purchase of shares in Western Cables Ltd, a company involved in multi-channel TV installation in Limerick and elsewhere. The security was "adequate".
123. Mr Sidney Seymour
Mr Seymour, who died in 1992, was an employee and director of the building company G&T Crampton. In the 1970s the company arranged trusts in the Cayman Islands for the benefit of its directors. They were to be managed by Ansbacher. The inspectors have other information that he later had a "suitably secured" loan from Guinness & Mahon. The only figure mentioned in accompanying documents specific to Mr Seymour is £10,000.
124. Mrs Nora Shanahan
The inspectors say Mrs Shanhan, who lives in London, did not co-operate and they could not confirm details with her. But they did establish that she had a business connection with Ansbacher in the 1990s and records show a lodgement of £30,000 sterling in 1991 and a series of withdrawals.
125. Mr Michael J Shanley
A director of a number of companies, including Shanley Hotels (Ireland) Ltd, and resident in England, Mr Shanley refused to attend before the inspectors but said he would write a letter of explanation "eventually". The inspectors found his approach "unacceptable" and were obliged to reach their conclusions about him without the benefit of his evidence.
The inspectors say documents show Mr Shanley was the beneficial owner of funds in two trusts and that funds were placed with Ansbacher. One company linked to Mr Shanley, a property investment company named Maybach, was approved for a £170,000 Guinness & Mahon loan in the late 1970s which was "suitably secured".
126. Mr John D Sheridan
Mr Sheridan, who died in 1983, was a client of Ansbacher. His Florida-based daughter, Ms Susan Sheridan Mack, told the inspectors through her lawyer that she began receiving "distributions" two years later but had "little knowledge of the investment" and "assumed it was inherited". She did not consider herself a client of Ansbacher.
127. Mr Jack Stakelum
The accountant who would become a key figure in the inspectors' inquiry was a close friend of Mr Traynor. They were partners in Haughey Boland in the 1960s. In the 1970s, Mr Traynor suggested a scheme whereby Mr Stakelum borrowed from Guinness & Mahon and claimed tax relief on the interest. There was a £40,000 loan and the facility was "purely a legitimate means of some tax avoidance at the time", he told the inspectors.
The loan was "suitable secured" according to a Guinness & Mahon document. The funds were placed on deposit offshore.
Mr Stakelum set up his own consultancy in the 1970s and arranged through Mr Traynor to place clients' funds on offshore deposit. He had an offshore account containing the money of several clients, which he called the "hotchpotch" account.
128. Mr Sam Stephenson
The well-known Dublin architect, responsible for some of the city's most controversial buildings, including the Central Bank, was also a property developer in consortia which sometimes included Mr Traynor.
In the 1970s Mr Traynor placed funds which were Mr Stephenson's share of property development profits on deposit with Ansbacher. At one stage they totalled about £150,000, the architect told the inspectors. The deposit was used to provide security for Guinness & Mahon loans.
129. Super Ser Ltd
Super Ser Ltd operated in Ireland up to the 1980s. (It no longer exists and any company now with the same name or a similar name has connection to Ansbacher, the inspectors say.) Shareholders were Mr Harry Lindsay and Mr Chris Goosen. The company had substantial deposits with Ansbacher; in an interview with Mr Lindsay the inspectors quoted a document suggesting deposits of £400,000, and also a loan of £1.3 million.
Mr Lindsay said a plan to sell heaters in the US went well until gas suppliers stopped supplying gas for portable heaters because "in the states the legal position was that people would start wheeling them up against curtains and so forth and it was too liable for claims". The funds on deposit were eventually exhausted repaying debts to Guinness & Mahon.
130. Mr and Mrs Peter Tamburo
John Furze formed a trust for Mr Tamburo, who lived in Florida, in 1974. In 1981, the company acquired shares in a UK firm named Tunnel Holdings Ltd.
131. Mr Kazuaki Tazaki
Former director of Brother International Corp (Europe) Ltd. He came to Ireland from Japan in 1960 to take up employment with that company. Left Ireland in 1970 to work with the company in Manchester. He now lives in England.
He had two accounts and in 1985 the balance on deposit in one coded account was £34,477.35 sterling. There was a further $20,093.11 in a Titan Investments deposit account.
Mr Tazaki told the inspectors that when he left Ireland the company gave him a bonus payment but he never saw it. It was transferred by the company to Des Traynor but he couldn't explain why. Mr Traynor told him the money would be placed in trust and he later learned the trust was in the Cayman Islands. He received statements on his accounts from Traynor.
132. Ms Carmel Traynor
A sister of the late Des Traynor, she lives at Kimmage Road West in Dublin 12.
She had £2,000 to invest in 1975 after becoming the sole beneficiary of her father's estate and gave it to Mr Traynor to invest it for her.
She told the inspectors she did not have to sign anything and received no documentation or account number. She did not know where it was invested. "To state that I was a client of Ansbacher seems harsh when one considers that I did not open an account in my name, and I was not even aware that the account was an Ansbacher account until I received your letter and enclosures of the 16th November 2001," she told them.
"How can a person be a client of someone if they do not know it? I cannot follow your logic at all," she added.
She said that after her brother's death in 1994 she requested repayment of the funds and another of her brothers, John Traynor, made arrangements for it to be repaid through Mr Padraig Collery. The sum at this stage was about £13,000.
133. Mr James Desmond Traynor, deceased.
He lived at Howth Road, Clontarf, Dublin 3 and was one of the founding directors of GMCT (Guinness Mahon Cayman Trust) and was its representative in Ireland. Later he became its chairman.
He began his career as the first articled clerk in Haughey Boland & Company, chartered accountants, and stayed with the firm from 1950 to 1969.
He was a director of Guinness and Mahon from 1969 to 1986. He was also chairman of CRH plc from 1987 until his death in 1994.
The report said Mr Traynor had "substantial deposits with Ansbacher" but the amount on deposit is not stated.
134. Mr Joseph Turley (Senior)
A director of Rathdown Motors. His earlier career was in the car rental business and he set up a family firm, Argus Automobiles in Terenure, Dublin, in the 1970s.
An internal GMI memo, dated 1989, said Mr Turley had availed of a number of different "facilities", amounting to a maximum of £600,000 at any one time. They were provided "on the basis that security was adequate (to the extent of £1 million sterling)". They were "secured by adequate deposits which are effectively under (G&Ms) contol".
Mr Turley denied any connection with Ansbacher. In correspondence he said: "I have never personally nor to the best of my knowledge has any company with which I may be associated knowingly availed of any services provided by Ansbacher (Cayman) Limited".
He added that he met Des Traynor just once. He got loans from Guinness & Mahon and did not know why Ansbacher would have any interest in them.
135. Mr Martin Turley
He lives in California.
A fax discovered by the inquiry and dated 1994 directed the transfer of £1,776,778 sterling from an Ansbacher account in IIB to an account in Mr Turley's name in the Ulster Bank in Belfast.
The report said he had failed to co-operate with the inquiry. In response to a general letter of inquiry he said he had no information relating to Ansbacher. He failed to reply to a subsequent query from the inspectors, who said consideration should be given "by the appropriate authorites" to seeking a disqualification order against him under the Companies Act.
136. Sir Charles Villiers, deceased.
Mr Villiers was a director of Guinness Mahon and Co in London between 1971 and 1976. He retired in the early 1980s and died from cancer in 1992. The inspectors said it appeared he had had an account in GMCT for many years. The amount is not stated. His wife said she had little or no recollection of his dealings with Ansbacher (Cayman).
137. Dr Oliver Waldron
Managing director of Tara Mines Ltd from 1972 to 1974. He was also the owner of a company called Irish Mining Services Ltd.
Before 1972 he worked abroad in natural resource exploration. He lives in London, having moved to England in 1983.
He told the inspectors he lived abroad from 1965 to 1972 and on his return to Ireland he set up a trust with GMCT. He said he settled the trust with cash and assets acquired abroad and the beneficiaries were his children
He said small amounts from the trust funds were paid out to him from time to time in Ireland to defray expenses on behalf of his four children. He withdrew all the funds when he moved to England to fund the private education of his children.
138. Mr Joseph Walsh
Former joint managing director of his family bar and greengrocers business, P. Walsh & Sons Ltd, Kilkenny. He was also a director of Grassland Fertilizers in Dublin, which was started by his family in 1964. He is now aged 80.
He lodged £100,000 to a trust in the Channel Islands in 1972.
Mr Walsh told inspectors he met Mr Traynor in the course of business and in 1972 told him he wished to leave some money to his nephews and nieces. Mr Traynor suggested a trust in the Channel Islands and Mr Walsh invested £100,000.
He never received statements on the account but at one stage Mr Traynor told him it was "doing well". In 1995 Mr Walsh said his brother died suddenly and he decided to withdraw the original amount for his brother's children. By that time Mr Traynor had died and he sought the assistance of his accountant in tracing the money.
His accountant put him in touch with Mr Padraig Collery who obtained the withdrawal. Only at that stage, Mr Walsh, said, did he discover the money was in the Cayman Islands. The interest earned on his original investment was still there, he said.
139. Mr Ivan Webb, deceased
Was managing director of builders G&C Crampton Ltd.
The report said that shortly before Mr Webb died in 1972, arrangements were made to establish a number of trusts in the Cayman Islands, one of which would be used by him. Mr Webb died within three months of these arrangements being made by Mr Don Reid.
The inspectors established that after Mr Webb's death an account existed in Ansbacher which held funds "apparently intended for the trust". Mr Webb's wife, Mrs Valerie Webb, told the inspectors she only learned of the trust after her husband's death.
In the mid-70s she was made aware by a director of Cramptons, Mr Sidney Seymour, of the fund invested by Cramptons for her benefit and she regularly received payments from it into her current account in Guinness & Mahon bank. The inspectors said it appeared one of the payments she received, of just over £70,000, was originally in Ansbacher.
The report said the inspectors were satisfied the beneficiary of these funds "took no action with regard to the establishment or maintenance of the trust after Mr Webb's death".
140. Ms Joan Williams
She was secretary to Mr Des Traynor during his time at Guinness & Mahon and at CRH. She is now retired and lives at Stradbrook Grove, Blackrock. The balance on the her account, coded A/A7 was £80,008 sterling in 1995. In evidence to the inspectors she said Mr Furze of GMCT told her during one of his visits to Ireland in the late 1970s or early 80s that he would open an account for her in GMCT and lodge some money to it. It was after her car had been broken into. She regarded it as a gift and made two withdrawals totalling £10,000 sterling from the account, which is still in existence. Statements obtained by the inspectors showed large sums being lodged to the account over a period of time but Ms Williams said she never lodged money to it.
141. Mr Robert Willis
A former director of Irish Life, CRH and Banque Nationale de Paris. He knew Mr Traynor very well and regarded him highly. Knowing Mr Traynor's connections with Guinness & Mahon, he asked him to open a deposit account for him and gave him cheques to lodge to the account from time to time. He told the inspectors he did not know where Mr Traynor had opened the account and did not inquire as he trusted him absolutely.
He said he believed the account was in Guinness & Mahon in Dublin and never heard the word Ansbacher until he read it in the newspaper. The only records he ever received were "little white slips of paper". The amount on deposit was not stated.
142. Mr Robert Wilson
Former chairman of Robert Wilson & Sons (Ulster) Ltd and Robert Wilson (Ireland) Ltd, both of which went into receivership in 1983, Mr Wilson is now chairman of a London-based company called A Nelson & Co Ltd which manufactures homeopathic remedies.
A trust was established in GMCT by his Northern Ireland company in the late 1970s. The deposit was £40,000 sterling.
Mr Wilson told the inspectors he came to know Mr Traynor when Haughey Boland, for which Mr Traynor worked, audited his company. Around 1977, Mr Wilson discussed with him the creation of a trust for the benefit of his family and himself. It was set up with company funds. He made withdrawals up to 1993, after which he said the trust ended. Since 1985 he has been tax resident abroad.
143. Wilson Bishop Tolley & Co Pty
An Australian-based company which had a number of loans with Guinness & Mahon in the 1970s and 80s. These included loans in 1978 for $90,000 and DM150,000. It also placed funds in the bank through GMCT.
144. Adolf Franz (Burschi) Wojnar, deceased
Mr Wojnar was Dublin-based businessman who was involved in a number of companies, including MW Wallpaper Specialists Ltd, Fletcher & Phillipson Ltd and Foxrock Securities Ltd. He died in 1993.
He had offshore deposits and a back-to-back loan, according to a memo obtained by the inspectors. The amount involved is unclear.
145. Mr Richard Wood
Chairman of John A Wood Ltd. He was a director of CRH from 1981 to 1997. A former governor of The Irish Times Trust.
He received £78,374 from trust funds in the Cayman Islands in 1977.
Mr Wood told the inspectors the trusts had been set up by his father and he "inherited the situation". He said his father decided to enter property development "as a sideline" in the late 60s but taxation on such development was so high, he was advised to go to Haughey Boland for advice. There he met Mr Traynor, who "devised the scheme" but there was never any suspicious that it was illegal, he said.
His father died in 1972 and the funds from the trusts were returned to Ireland in 1977. He invested the money in development projects.
146. Mr Christopher Woodward
Mr Woodward was an employee of Guinness Mahon Jersey Trust but severed links with the operation around 1984. He now lives in Dorset in the UK.
The report said his work as a trust official appeared to be on behalf of others. However, there were clear references in one document obtained by the inspectors to a GMCT account in his name.
147. Mr Ronald Warren Woss
Mr Woss is a businessman with an address in Victoria, Australia.
The report said he had "a close connection" with Mr Traynor. He did not co-operate with the inquiry but the inspectors discovered he received weekly information on funds in one Ansbacher account coded A/A26.