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Search words: Ansbacher
Ansbacher: List of 'A' Category Clients
1. Mr Roger P Ballagh
Mr Ballagh is a solicitor in a Dublin firm with Mr Michael O'Shea and Mr Terence D.E. Dixon.
During 1992, fees earned by the firm were given by their late partner, Mr Liam McGonagle, to Mr Desmond Traynor and ended up in an Ansbacher account. The sum involved was £40,000 approximately. The money was left on deposit offshore for some time and then shared out among the partners. The payments were made from a Hamilton Ross account in Ansbacher. All the partners who shared in that fund were thus clients of Ansbacher. Mr Ballagh, Mr O'Shea and Mr Dixon were clients of Ansbacher, although the inspectors accept that they were not aware of the location of the funds.
2. Mrs Frances Elizabeth Barrett
Mrs Barrett lives in Stratford-upon-Avon, Warwickshire, England.
Information provided by Mr Padraig Collery shows that Mrs Barrett was the beneficiary of an Ansbacher trust called the Alderwood Trust. From documents, it emerges Mrs Barrett received payments in London by direction of Mr Traynor writing on Ansbacher-headed paper and these payments were debited to an account in the name initially of Colinas Investments Ltd and later of Coral Reef Securities, both in Guinness & Mahon. Documents relating to Coral Reef's account in Guinness Mahon & Co show Mrs Barrett was an authorised signatory on the account. Letters from Mr Collery between 1995 and 1997 refer to a deposit that had matured and explain that part of the total sum has been replaced on deposit and the balance, after deduction of fees, is being credited to the Coral Reef account in London.
Mrs Barrett replied to the inspectors' written request for information by letter dated July 2nd 2000, saying that she had no knowledge of the matters which were the subject of their inquiries.
3. Mr John Barrett (Deceased)
The late Mr Barrett was formerly of 34 Monckton Court, Addison Road, London W14 8FN.
Mr Barrett was a long time Guinness & Mahon client. At all times he appears to have dealt with Mr Traynor in relation to his Guinness & Mahon business. During the 1970s, Mr Barrett had dealings with Mr Trayor that show an Ansbacher connection.
Mr Barrett's involvement was contemporaneous with a transaction between Guinness & Mahon/Ansbacher and Mrs Frances Barrett.
4. Mr Jesus Barrios and Mrs Maria Barrios
Mr and Mrs Barrios formerly of 943 S.W. 78 Place, Florida 33144 US, were associates of Mr and Mrs Andreas Pruna. Like the Prunas, the Barrioses were under investigation for drug-related offences in the state of Florida. Evidence on this was given to the Moriarty Tribunal by Ms Sandra Kells on behalf of Guinness & Mahon. The correctness of her evidence at that tribunal has been confirmed to the inspectors by Guinness & Mahon
The Barrioses borrowed $75,000 from Guinness & Mahon in 1984. The loan was secured by a mortgage on property in Florida and a GMCT deposit in Dublin. Interest was paid on the borrowing by the borrowers during the lifetime of the loan.
At all times the loan was considered a "suitably secured" loan in the books of Guinness & Mahon.
5. Mr Anthony Dermot Barry
Mr Tony Barry was formerly chairman of CRH plc. He told the inspectors on oath that in 1989 he wished to make financial arrangements for two of his children, who were non-resident. From transcripts of evidence it is shown that on one occasion on instructions from Mr Traynor IR£30,000 was transferred to Mr Barry's daughter's account from the Ansbacher.
In 1989, Mr Barry was in regular contact with Mr Traynor, who was then chairman of CRH. Mr Barry mentioned to Mr Traynor his desire to provide for his children and to utilise certain funds representing foreign dividend income and/or payments in reimbursements of business expenses for this purpose. Mr Barry told inspectors that his income had been properly declared to the Revenue. Mr Traynor suggested Mr Barry should give him the cheques, telling him when he wanted to transfer money to his children and he would arrange it. Mr Barry accepted the suggestion, and gave cheques to Mr Traynor from time to time, usually sending them through CRH internal mail. It is clear from Mr Barry's evidence and documentation that Mr Traynor deposited Mr Barry's funds with Ansbacher. Transfers to Mr Barry's children from time to time were debited to Ansbacher's account in IIB. Mr Barry was a client of Ansbacher, as confirmed by him in his evidence, only to the extent indicated.
6. Sir John Derek Birkin
Sir John Birkin is now retired but was a leading industrialist in the UK.
He was interviewed in London in 2001. He explained he had a business arrangement with Mr Traynor, then chief executive of Guinness & Mahon, under which he placed money offshore. Sir John was not aware of the actual mechanism used by Mr Traynor to care for the funds but now accepts that Ansbacher was used for the purpose. At a later date the money was transferred to Hamilton Ross.
7. Captain R.G. Bryce
Capt Bryce is a resident of Howth, Co Dublin, and a former Aer Lingus employee. From 1974 to 1977, he lived in Bangkok, Thailand.
Mr John Guinness, of Guinness & Mahon, offered to set up an account in GMCT for Capt Bryce so that he could leave his savings offshore until his return to Ireland. Capt Bryce says that to the best of his recollection the monies in his account were repatriated during the tax year following his return to Ireland. A letter dated 1975 from Mr John Furze, of Ansbacher, to Capt Bryce thanks him for his recent deposit of funds, mentioning a figure of just over US$12,000, and notes he may wish to transfer further funds from time to time from his account in France.
8. Mr John Byrne
Mr Byrne is a well-known property developer. He has extensive property interests in Ireland and the UK.
Mr Byrne put in place two structures each held by a trust; the Tristan Settlement and the Prospect Settlement. The Tristan settlement had a structure that included a Cayman company, Tristan Securities Ltd, with two subsidiaries, Danstar Holdings Pty, (an Australian company) and Intramar securities, a Cayman company. The prospect settlement related to Mr Byrne's Irish business. The settlor was Mr Byrne, with beneficiaries his wife and family. Prospect Holdings, an unlimited Cayman company, which in turn owned Carlisle Trust Ltd, an Irish company, held assets on behalf of the trust. Carlisle had a number of subsidiaries: Dubin City Estates Ltd, Alstead securities, Smithfield Property Development Ltd (formerly Endcamp Ltd), Goreville Ltd, Pritco Ltd and JEC properties.
The inspectors concluded that the trust could have provided a legitimate vehicle for the apparent objective of transferring ownership to a trust while retaining control with Mr Byrne. The trust did not appear to retain the legal separation necessary to achieve Mr Byrne's objective. Many loans were provided to the companies controlled by Mr Byrne and many of these had back-to-back security provided by the Tristan structure. He gave personal guarantees for loans. The funds held by the trusts in Ansbacher in Ireland were at all times available for any purpose to Mr Byrne who had power to apply funds as he thought fit. As Cayman records were not available to the inspectors, they were unable to ascertain with certainty the extent to which other trust funds were available in Cayman. The inspectors conclude that control of the trust funds rested with Mr Byrne at all times. In a statement to the inquiry, Mr Byrne said he had no connection or involvement with Ansbacher Cayman insofar as companies and trusts established in the Channel Islands were concerned.
9. Mr Patrick Carty (deceased) and Mrs Beatrice Carty (deceased).
Mr and Mrs Carty, formerly of 13 the Pines, Castleknock, Dublin 15, were retired businesspersons.
They established a discretionary trust through Guinness & Mahon in their joint names in the Channel Islands around 1971. The monies were moved to Ansbacher at some stage prior to the winding-up of the trust in 1993.
10. Mr DHA Cecil (deceased)
Mr Cecil was aresident of the UK and owned a public house known as the Hare & Hounds in Hungerford, Berks.
He obtained a loan for IR£179,616.85 in the 1970s from Guinness & Mahon backed by a guarantee from GMCT supported by hypothecated funds equal to the amount of the loan. It appears he was the beneficial owner of funds in two other Ansbacher accounts, one in the name of a Channel Islands company called Gombrette Ltd, which also had a Guinness & Mahon loan backed by funds in GMCT, and another with the reference CD Woodward which had a similar cash-backed loan. The Gombrette loan was for IR£247,500 and the Woodward for IR£123,000. Since all of these were backed by cash, Mr Cecil's Ansbacher deposit amounted to at least IR£550,116.85 in the mid-1970s.
11. Mr Ronald Chambers
Mr Chambers is a former managing director of Robert Wilson & Sons (Ireland)s Ltd. He is now retired.
Mr Chambers gave evidence that on the advice of Mr Desmond Traynor in 1972 he set up a discretionary trust, Ascot Trust, of which GMCT was trustee. It was for his own benefit and that of his wife and children. The trust funds were deposited with Ansbacher.
Mr Traynor told Mr Chambers he could withdraw money from the trust funds whenever he wished, simply by asking Mr Traynor or Mr Collery. Mr Chambers availed of the service a number of times. The amount withdrawn was debited to the Ansbacher pooled account in Guinness & Mahon.
In their interview with him the inspectors mention a loan for £90,000 in 1974 backed by a cash deposit but Mr Chambers says he no recollection of such a loan.
In a statement to the inspectors Mr Chambers said he initially transferred £60,000 to a discretionary trust suggested by Mr Traynor. He had not heard of Ansbacher Ltd prior to the Dunnes Stores payments tribunal under Mr Justice McCracken.
12. Mr Samuel Clarke (deceased)
Mr Clarke was a director of Crampton Housing Ltd.
In 1972 Guinness & Mahon was involved in a joint venture with Crampton Housing Ltd for the development of a site in Dublin.
Mr George Crampton gave evidence that six trusts were to be established in connection with the development, one for each of the directors of Crampton Housing Ltd. The entire scheme was probably activated.
13. Mr Henry J Cleeve
Mr Cleeve, aged 94, lives at The Old Rectory, Gowran, Co Kilkenny.
Mr Cleeve informed the inspectors that he set up the Springfield Trust with funds bequeathed to him by his aunt, a Canadian national, who died in 1979. The 1980 statements of a GMCT sundry sub company account in Guinness & Mahon show transactions with Springfield Investments.
One such, dated August 15th 1980, shows a debit of £8,000 sterling from a letter of August 18th 1980, written to Guinness & Mahon by solicitors, that £8,000 sterling was sent to that firm by Guinness & Mahon on behalf of Mr Cleeve on August 14th 1980.
14 Mr Patrick J. Clonan
Mr Clonan was a shareholder in Deilginish Holdings Limited, a property development company.
Documents show that Mr Clonan received a payment and travellers cheques, both of which were debited to an Ansbacher account in Guinness & Mahon.
Mr Clonan told the inspectors he had never had any dealings with Ansbacher. However, he admitted he had placed money abroad through Mr Jack Stakelum but said he had no knowledge of where those funds were placed.
15.Mr Kevin Collery (deceased) and Mrs Kathleen Collery.
Mr and Mrs Collery are the parents of Mr Padriag Collery.
Desmond Traynor opened an Ansbacher bureau account at the request of Mr Padraig Collery in May 1992. Mr Kevin Collery's funds from a maturing investment held in Ireland were placed on deposit. Mr Padraig Collery added further funds after his father's death in April 1995. The account was routed through Hamilton Ross from about 1993 and closed in July 1999.
It would appear that neither Mr Kevin Collery nor Mrs Kathleen Collery took any part in the operation of the account.
16. Mr Padraig Collery
From 1974, Mr Collery worked with Mr Desmond Traynor in Guinness & Mahon as an accounting and computer manager, becoming an associate director in 1986. He left in 1989 and joined a computer software supplier as a support manager but continued on a part-time basis to assist Mr Traynor with the maintenance of the Ansbacher and College Trustees computerised accounting records, the so-called bureau system.
After Mr Traynor's death in 1994, Mr Collery was the principal Ansbacher authorised representative in Ireland.
An Ansbacher deposit account was opened for Mr Collery by Mr Traynor into which fees, expenses and gratuities earned for his work on Ansbacher and College Trustees were transferred. At the start of January 1993 Mr Traynor arranged that Mr Collery's deposit account was transferred into the name of Hamilton Ross.
In his evidence Mr Collery said he had returned the fees to the Revenue Commissioners at the end of 1997. He said he did not have a trust of any kind from Ansbacher or a back-to-back loan.
17. Mr Cornelius (Neil) Collins
Mr Collins is currently managing director of Heffernan's Travel in Cork. He has been involved in property development both in Ireland and abroad. He had funds and assets in the US which an uncle there had given him.
He was advised by Stokes Kennedy Crowley that it would be more productive to invest those assets offshore than to bring them back to Ireland. On the advice of SKC a trust called the Redhall Trust of which Ansbacher was trustee was established in the Cayman Islands. Tamarin Holdings Ltd, a company Mr Collins owned, was also linked with Ansbacher.
In the early 1970s he and partners were involved in a property development venture. He had replaced Mr Neil McCann.
A letter refers to a deed of settlement by which Mr John Furze appointed Ansbacher as trustees of a settlement for the benefit of the issue of Mr and Mrs Charles and Rosetta McCann.
Ansbacher owned all the issued share capital of a company called Blue Ltd. Mr Collins said he had never heard of it. A 1973 letter referred to three Cayman trusts, called the Red, White and Blue trusts. Mr Collins was also involved in a consortium to carry out a development near Phoenix, Arizona, US.
On the advice of Mr Traynor, a scheme was constructed involving the setting up of a discretionary trust which had as beneficiaries five Cayman companies. Mr Collins said in the late 1980s he lost everything as he had to sell of all his assets to repay banks on foot of personal guarantees. He also reached a full and final agreement with the Revenue.
18. Dr Patrick Finbarr (Barrie) Collins
Dr Collins is a retired medical practitioner and former non-executive director of Westboro Investments.
Dr Collins said a relative in the US gave him some shares which he then gave to his brother Mr Cornelius (Neil) Collins to dispose of for him. A 1976 statement of affairs of Redhall Trust, of which Ansbacher was a trustee, shows that the trust was the beneficial owner of shares in two companies, Redhall Investments Ltd and Agar International Ltd, the latter of which held funds belonging to Dr Collins.
Dr Collins told the inspectors he had no connections with Ansbacher. The inspectors accept that Dr Collins left the investment and management of the proceeds of the sale of his shares entirely to his brother, Mr Collins.
19. Lady Carole Conyngham (formerly Ms Carole Power Yorke)
Lady Conyngham lives at 42 Lygon Road, Edinburgh, Scotland. She had funds, stocks and shares on deposit with GMCT. These were held in the name of a company called Capoyo Ltd and were used as security for loans obtained by Lady Conyngham from Guinness & Mahon.
The inspectors requested information in May 2000 but Lady Conyngham's solicitor replied that she was ill. A medical certificate was sent on June 21st. In July 200, her husband telephoned to explain that his wife was abroad convalescing.
Despite telephone calls and correspondence later that year, the only response was from her solicitor saying he was awaiting her instructions. the inspectors, therefore, arrived at a preliminary conclusion without her evidence.
20. Mr Hugh Coveney (deceased)
Mr Coveney, late of Laharn, Minane Bridge, Co Cork, was a TD and quantity surveyor. In 1980 he formed a consortium to develop a property in the US withthree US and four Irish investors.
The consortium caused a discretionary trust, the Lynbrette Trust to be set up, of which GMCT was the trustee. Mr Traynor of Guinness & Mahon advised about the kind of structure required to meet the demands of the project. The beneficiaries of the trust were intended to be five Cayman Island registered companies.
Mr Coveney was to be given the option to acquire one of the companies, Eclipse Holdings Ltd and was required to invest $212,500 in the venture.
He negotiated a venture capital arrangement with Mr Traynor. Eclipse borrowed the funds from GMCT and Mr Coveney guaranteed the borrowings in return for which he was to be given an option to buy the shares of Eclipse. The development failed and Mr Coveney suffered considerable losses on it.
The existence of deposits with GMCT during the 1970s up to December 1979 belonging to Mr Coveney was admitted on behalf of his estate both to the Moriarty tribunal and the inspectors.
21. Mr George Crampton
Mr Crampton is a former chairman and managing director of the building company G&T Crampton.
In 1972, Guinness & Mahon was involved in a joint venture with Crampton Housing Ltd for the development of a Dublin site. The Crampton directors sought advice from Mr Don Reid, of Stokes Kennedy Crowley (now KPMG), as to taxation aspects of a proposal made by Mr Traynor to place the proceeds of the joint venture in an offshore trust based in the Cayman Islands. Six trusts were established in connection with the development, one for each of the directors of Crampton. Mr Crampton's own rust, Whitehorn No 6 Trust, was established in 1972 and the trustee was Ansbacher. The trust funds were held in the name of a company called Starling Securities Ltd.
Mr Crampton told the inspectors he was satisfied the scheme did not involve tax evasion. He understood the money would be held in the Cayman Islands. In evidence, he said he always understood the money would be transferred to the Cayman Islands. In other words, he said, he did not understand very clearly what was happening with that account. He left it to the experts.
22. Captain W.R. Cuffe-Smith (deceased)
Capt Cuffe-Smith was an Aer Lingus pilot.
An undated Letter of Wishes headed Guinness Mahon Cayman Trust Ltd refers to a discretionary trust and asks the trustees to hold the trust fund primarily for the benefit of Capt Cuffe-Smith, his wife and family. Other documentation indicated that funds were in a particular account. Other documentation shows that funds were transferred from time to time from accounts in Ansbacher's name in Guinness & Mahon and IIB to an account in the name of Capt Cuffe-Smith in Guinness & Mahon.
Due to the illness of Capt Cuffe-Smith's widow and the inability of any other member of his family to be of assistance, the inspectors have been obliged to arrive at their preliminary conclusions by reference to documents.
23 Mr James P. Culliton
Mr Culliton became chief executive of CRH in 1974 and a member of its board of directors when Mr Traynor was also a board member. Mr Culliton resigned as chief executive in 1987 but remained as a non-executive director until 1994.
Mr Culliton told the inspectors that in 1979, Mr Traynor offered to place money for him in a demand account, telling him that the deposit would have a variable rate of interest and that the interest would be paid gross. It was clear to Mr Culliton that the account was to be a secret one and that it would be offshore. He lodged and withdrew money through Mr Traynor. He closed the account in 1987. Mr Culliton's funds were deposited offshore. His business was transacted at all times through Mr Traynor. He did not have day-to-day control of funds deposited in the Channel Islands. The inspectors are satisfied that on the balance of probabilities, the funds were in Cayman rather than in the Channel Islands and that Mr Culliton was, on the balance of probabilities, a client of Ansbacher.
Mr Culliton said he was under the impression at the time that the account would be located in the Channel Islands.
24. Dr Michael Dargan
Dr Michael Dargan is a former chairman of CRH and of Aer Lingus. He was also a member of the board of the Bank of Ireland.
Documentary evidence indicates that a guarantee given by Guinness & Mahon for a loan obtained from a Brussels bank by Dr Dargan in 1990 was backed by an Ansbacher deposit. There is also documentary evidence of a transfer of funds from an Ansbacher account in IIB to accounts in Dr Dargan's name in Ulster Bank and Bank of Ireland.
Dr Dargan admitted that his memory was unreliable. He told inspectors in his evidence that he had no recollection of having any funds in Ansbacher.
25. Mr Brian Dennis
Mr Dennis has been involved all his life in the motor trade and related industries. He is now partly retired. He is or has been a director of a number of companies, including HB Dennis Motors Ltd, Phoenix Finance Trust, Exchange Finance Ltd, Dennis Group Holdings and the Educational Building Society. He was a long-time friend and neighbour of the Mr Traynor.
Mr Dennis said in evidence that in 1972 he told Mr Traynor that he wished to make provision for the marriage of his sons. Mr Traynor suggested to him that the most tax-effective way to so so would be to create a discretionary trust in the Cayman Islands. Mr Dennis transferred funds to the trust by giving them to Mr Traynor, who informed him that GMCT would be the trustee. Later, Mr Traynor informed him that the trust was being moved to the Channel Islands. It would appear from an internal Guinness & Mahon memo dated December 1986 that in the Channel Islands the trust was managed by College Trustees, but that GMCT continued to hold the deposit.
Mr Dennis said he never heard of "Ansbacher" Cayman.
26. Mr Charles T.G. Dillon (deceased)
Mr Dillon was a prominent businessman who had been a director and chairman of a number of Irish companies, including Guinness & Mahon. He had been appointed a director of that company on May 8th, 1990, and retire from the board on June 1996.
Mr Dillon had a relationship with Guinness & Mahon as far back as 1986 when, according to an internal Guinness & Mahon document, he had a loan with another person in the sum of IR£13,716.36. The loan is recorded as backed by an Ansbacher deposit. Later the deposit appears to have been transferred to an account in the name of Hamilton Ross held in IIB. From this account there were many transactions in the name of Mr Dillon. These funds, while in the name of Hamilton Ross, were at all times in the control of Ansbacher as Hamilton Ross at that stage was a vehicle of convenience for Ansbacher.
In reply to the inspectors, Mr Dillon's son, Mr Carl J. Dillon, said his father died in January 1998 after a relatively brief illness. He did not believe his father was aware of the inquiries before he died and did not have the time or ability to deal with such matters during his illness.
27. Mr Terence D.E. Dixon
Mr Dixon, with Mr Michael O'Shea and Mr Roger P. Ballagh are solicitors in a Dublin firm.
During 1992, fees earned by the firm were given by Mr Liam McGonagle, their late partner, to Mr Traynor and ended up in an Anbacher account. The sum involved was IR£40,000 approximately. The money was left on deposit offshore for some time and then shared out among the partners. The payments were made from a Hamilton Ross account in Ansbacher. The IIB dealing tickets show that Mr Ballagh received over IR£11,530, Mr O'Shea and Mr Dixon IR£6,243 each, the firm IR£4,877 and a company controlled by Mr McGonagle Stg£6,701.
The partners have assured the inspectors that they did not know where these funds were lodged. Although they were clients of Ansbacher, the inspectors accept that they were not aware of the location of the funds.
28. Mr David Doyle
Mr Doyle is the son of the late Mr PV Doyle of the Doyle Hotel Group.
Guinness & Mahon acting through Mr Traynor, with whom Mr Doyle came into regular contact, set up an offshore deposit account with GMCT for Mr Doyle in about 1983. Initially, Mr Doyle believed the account was in London but around 1986 he learned from Mr Traynor that it was in Cayman. He ended his relationship with Ansbacher around 1991. Mr Doyle enjoyed the use of the funds on deposit by means of a service provided by Ansbacher whereby he was able to deposit and withdraw funds in Ireland.
Mr Doyle said that on December 17th, 1993, a settlement was reached with the Revenue Commissioners regarding the tax affairs of himself, the Doyle Hotel Group and the rest of his family.
29. Mr P Vincent Doyle (deceased)
Mr Doyle was a building contractor who in the early 1960s diversified his business and created the Doyle Hotels Group. Mr Traynor was a long-time adviser to Mr Doyle and after the latter's death in 1988, Mr Traynor attended board meetings of the hotels group and became a director.
An unlimited company, Thornhill Incorporated, held the shares of PV Doyle Hotels and other companies in Ireland. In the early 1980s, Mr Doyle arranged the formation of a US corporation, IH Investments Inc, which held the shares in the Doyle hotels in the US. Extern travel Inc was set up in the US to attract bookings for the Irish hotels. Mr Doyle also arranged the setting up of two Liechtenstein establishments into which were paid commissions earned by Extern Travel Inc. Both then transferred their funds to a further Liechtenstein body called TAWA. In the early 1980s, a loan of Stg£1 million was arranged by Mr Traynor for a UK company, PV Doyle Hotels Ltd, from Guinness Mahon London. The loan was cash backed by an Ansbacher deposit.The deposit funds had come from TAWA or one of the other Leichetenstein entities.
Over the years Mr Doyle and his hotel group, which in evidence were described as one and the same thing, had an on-going contact with Ansbacher. The inspectors are satisfied that the offshore funds held in Ansbacher in the names of companies in the Doyles |Hotels group was under the effective control of Mr Doyle.
30. Mrs Helen Downes
Mrs Downes was employed in Guinness & Mahon from the age of 19. She ceased permanent employment in 1977, but worked on a part-time basis on and off for many years after that.
Mrs Downes became entitled to a sum of money that was surplus to her needs. She invested it on the advice of Mr Traynor. On one occasion she added to the sum and withdrew cash from time to time but in general the account was not active. The money was eventually held in an Ansbacher account and later transferred to Hamilton Ross.
Initially, Mrs Downes was unaware that the sum was offshore. When she became aware, she said, she never considered whether or not she was breaching exchange control regulations. No one ever told her and no one ever asked her. She never received an account statement. As far as she was aware, her money was deposited through Guinness & Mahon by Mr Traynor and she asked Mr Padraig Collery if she required withdrawals.
31. Mr James Durkin
Mr Durkin of 2 Bernard Road, West Worthing, Sussex, England is of Irish background and worked in the building trade for many years.
Mr Durkin established a vehicle in the Cayman Islands by way of a trust, Beechurst Trust, to receive money offshore. The inspectors are not aware of the identity of the beneficiaries of the trust. At least part of the money deposited in the trust made its way to Ansbacher accounts in Guinness & Mahon and later IIB.
The money was also held in the name of Hamilton Ross Co Ltd in IIB. Later the money was transferred to other accounts. Mr Durkin withdrew money lodged with Ansbacher through both Guinness & Mahon and IIB and used the funds as his own.
Mr Durkin, now 84, is in bad health and his son supplied the information concerning his father. He had gone with his father to Dublin and met Mr Traynor. His understanding then, and he believed that of his father, was that the investment was with Guinness & Mahon in Dublin.
32.Mr James Sidney East (deceased)
Mr East was a director of Crampton Housing.
In 1972 Guinness & Mahon was involved in a joint venture with Crampton Housing Ltd for the development of a Dublin site. Mr George Crampton gave evidence that six trusts were to be established in connection with it, one for each director. Documents indicate the trust to be attributed to Mr East was to be called the Whitehorn C Trust. In the early 1970s Mr East had a loan from Guinness & Mahon described by the bank as "suitably secured".
Mr East's executor informed inspectors he was unaware of any connection between Mr East and Ansbacher and had no documentation relating to it.
33. Mr Francis Augustine Eastwood (deceased)
Mr Eastwood was a resident of Belfast where he was a major dealer in scrap metal.
When he sold his scrap yard in 1986 he settled the proceeds in three trusts of which Ansbacher was trustee. The trusts were called the Dallas, Canton and Omaha trusts. Documentation shows payments to Mr Eastwood from Ansbacher accounts in IIB.
One of Mr Eastwood's 15 children said neither he, his mother or any the rest of the family knew of his father's dealings with Ansbacher.
34. Mr Stephen Enoch
Mr Enoch was a resident of Ireland until 1979. He then emigrated to the US, having sold his business interests in the State. He remained in the US until 1990. He acquired US citizenship but on leaving relinquished it. Since 1990 Mr Enoch has had a residence in Spain.
Mr Enoch readily admitted to inspectors that he was the part owner of a partnership called Girard Investment, which invested in property and borrowed $1,250,000 from Guinness & Mahon in 1982. The borrowing was backed by an Ansbacher deposit. Mr Enoch and his wife borrowed $400,000 and $900,000 from Guinness & Mahon in 1990, both backed with Ansbacher-based deposits.
Mr Enoch denies being tax resident in Spain or in any country since 1990.
35 Mr Victor Enoch
Mr Enoch is a former resident of Ireland who now resides in Spain. He is 84 and in ill health.
The central entity is a Cayman-based trust, the Anne Enoch Trust, which was under the control of Mr Enoch and family members. the trust was operated partly through the Tabmount Corporation, a US property company. Guinness & Mahon provided two facilities to the Tabmount Corporation, $3 million in 1986 and $1.55 million in 1988.
The borrowings were backed by cash on deposit in the Cayman Islands. The inspectors conclude the backing funds were provided by the Anne Enoch Trust structure. There were many other transactions involving Mr Enoch with an Ansbacher connection.
36. Mr Bernard Etzin
Mr Etzin is a US citizen of 130 Grosvenor Road, London SW1. In the 1970s he was the managing director of Brother Ireland Ltd and its English counterpart, subsidiaries of the Japanese multinational corporation, Brother Industries.
Information suggested Mr Etzin had an Ansbacher deposit account. In the 1970s he borrowed monies from Guinness & Mahon or guaranteed loans to other companies.
37. Mr Sam Field-Corbett
Mr Field-Corbett of 22 Pine Valley Avenue, Grange Road, Rathfarnham, Dublin, was a close associate of Mr Desmond Traynor.
Mr Field-Corbett said a trust, the Auckland Trust, was set up on his behalf by Mr Traynor in the Cayman Islands in the mid-1980s. Mr Field-Corbett transferred money to the trust which lent it to a company called Aucklands Investments. The latter placed the money on deposit with GMCT. The funds were held in several accounts. He lodged and withdrew money and used the trust funds as security for a loan from IIB.
38.Mr John Finnegan
Mr Finnegan is a partner in Finnegan Menton. He has been an estate agent since the mid-1950s.
On Mr Traynor's advice Mr Finnegan said he established a trust in the Cayman Islands in 1972. GMCT was the trustee and Palace Investments Ltd held the trust assets. He believed Mr Traynor lodged sums of around £200,000 in the early 1970s into the trust. The funds settled upon the trust were Mr Finnegan's share of the profits arising from certain property transactions in which he was involved with Guinness & Mahon.
Mr Finnegan accessed his funds by means of loans made by the trustees. He did not repay them. Whenever he needed funds, he informed Mr Traynor. In the early 1990s, he got about £150,000 over a period. The trust was moved from GMCT in the early 1990s.
Mr Finnegan said there was lack of information and he was kept in the dark.
39. Mr Desmond G. Fitzgerald (deceased)
Mr Fitzgerald lived at Grove End, the Grove, Epsom, Surrey, England.
A letter dated April 10th 1979 between Mr Desmond Traynor and Mr Fitzgerald made arrangements for the opening of a bank account in GMCT. His widow confirmed that her husband had dealings with Guinness & Mahon in Cayman.
40. Mrs Eileen Fitzgerald
Widow of Mr Desmond Fitzgerald. In 1979 Mr Fitzgerald made arrangements to open a bank account in GMCT in his and his wife's name.
41 Mr Raymond C Fitzgerald
Mr Fitzgerald, with an address in 1987 at 2351 Keystone Boulevard, North Miami, Florida, US, is one of a number of persons who did business with Guinness & Mahon in Ireland, apparently as an associate of a family called Pruna.
An extract from an insurance policy dated April 1st, 1986, shows Guinness & Mahon as the first mortgagees of the property occupied by Mr Fitzgerald and the Prunas as second mortgagees. Mr Fitzgerald's December 1986 loan from Guinness & Mahon was in substitution for a loan made to Mr and Mrs Pruna. Mr Fitzgerald had the benefit of security for an Irish loan backed by funds on deposit in Ansbacher. The interest on the backing deposit was to be credited to an account in Cayman.
42. Ms Marjorie Sue Fitzgibbon
Ms Fitzgibbon, of Courtney House, Appian Way, Dublin 4, is a US national who settled in Ireland.
In July 1972, she established in Grand Cayman a trust and appointed GMCT as the trustees of the trust fund. The fund was operated through a company established in the Cayman Islands called Terra Securities. In May, 1973, the trust funds and all assets were transferred to a different trust known as the Jersey Settlement under the control of Royal Trust company of Canada (CI) Ltd, Jersey.
43. Mr Denis Foley
Mr Foley was a member of Dáil Éireann until the recent general election. He was a director of Central Tourist Holdings, a company that owned the Old Central Hotel in Ballybunion, Co Kerry.
In 1979, he had a sum of IR£50,000 to invest and he brought it to Mr Traynor, then director of Guinness & Mahon. He was told his money would be invested in Klic Investments. In the light of documents at the Moriarty Tribunal, it would appear the money was deposited in GMCT's account in Guinness & Mahon. The name was subsequently altered to that of Hamilton Ross.
In 1986, Mr Foley opened a resident deposit account in Guinness & Mahon. Mr Traynor advised a transfer to his Klic Investments account for more interest. He now believes the money was placed on deposit in Ansbacher. He made three withdrawals. The third, IR£50,000, was handed over in cash to him by Mr Padraig Collery.
Mr Foley said he was unaware that the proceeds of the deposit account were lodged in an account in the name of or held by Ansbacher or Hamilton Ross.
44. Fruit Importers of Ireland
The company ceased trading in 1980 and its trade and assets were transferred to a company now known as Fyffes - the fruit and vegetable distributors.
The inspectors said it was clear from a telex sent in 1977 that Fruit Importers had funds on deposit with GMCT. In that year, Mr John Furze, of GMCT, sent a telex to Mr Martin Keane, of Guinness & Mahon, authorising the withdrawal of the balance of almost $30,000 in a dollar account and the debiting of the amount to a GMCT account in Guinness & Mahon.
Mr Neil McCann, who held about 60 per cent of the shares in Fruit Importers, said he did not remember the company having funds in GMCT but agreed that it must have been the case.
Up to 1974, Fruit Importers had a subsidiary called International Fruit Agents (IFA), which was incorporated in the Cayman Islands with an address c/o GMCT.
It was sold to another Cayman company, Montagu Insurance Ltd, in 1974, but between 1976 and 1980 Fruit Importers was the beneficial owner of funds held in a number of Guinness & Mahon accounts under the name of IFA.
Mr McCann said these funds represented understated profits of Fruit Importers. Some of the funds were transferred to Fruit Importers and appeared as a profit in their books. The remainder was used to pay suppliers and make bonus payments to Fruit Importers staff.
The company told the investigation that full disclosure of the relevant facts had been made to the Revenue Commissioners.
45. Mr Arthur Gibney
Mr Gibney is a Dublin architect and was involved in several property deals with Mr Traynor. He was a former business partner of Mr Sam Stephenson, also named in this report.
Mr Gibney is president of the Royal Hibernian Academy and recently designed the new Roscommon home of the President, Mrs McAleese.
In January 1977, Mr Gibney held £147,371.62 in a Cayman account. A separate Ansbacher account which was set up by Mr Traynor for Mr Gibney had a balance of £103,101.82 in April, 1997.
From the early 1970s, Mr Traynor put Mr Gibney's share of property development profits on deposit with Ansbacher in Cayman.
Mr Gibney said the creation of a family trust had been suggested to him by Mr Traynor but said he had no knowledge of the actual setting up of a trust.
The Ansbacher deposit was used as security for property development loans from Guinness & Mahon.
In the mid-1970s property crash, Guinness & Mahon wished to see Mr Gibney reduce his borrowings and the trust was used to offset his liabilities.
Mr Gibney told the inspectors he had been under severe financial pressure and then Mr Traynor told him he had put aside an amount as security for his future. Mr Gibney believed this sum was about £25,000 but it had accumulated to more than £100,000 in 1997. That account was still in existence in 1999.
46. Mr Francis P. Glennon, deceased
Mr Glennon was the principal of the insurance company Frank Glennon Ltd.
He had £380,000 sterling or more with Ansbacher on January 7th, 1991.The inspectors said they were satisfied that Mr Glennon had "substantial deposits" with Ansbacher after his retirement. In a letter dated January 7th, 1991, Mr Traynor sought the supply of a sterling draft of £380,000 to Mr Glennon from a specific account.
Mr Glennon retired from day-to-day operations at Frank Glennon in 1984 and moved to Spain while remaining chairman until his death in 1992.
The firm's solicitors have pointed out that Mr Glennon had not been resident in Ireland since 1984 and had transferred his assets abroad with clearance from the Central Bank and the Revenue Commissioners.
47. Mr Paul Goode
Mr Goode has an address in Pont L'Eveque, France, and has an involvement in racehorses, according to the report.
He was the beneficial owner of Orbit Investments, a Cayman company with a registered address at the GMCT Cayman office. The company was used at various times for a number of people involved in racehorse ownership or training. Guinness & Mahon provided the day-to-day management of this company from Ireland.
48. Mr Christopher Goosen
Mr Francis Christopher Goosen was co-founder of Super Ser Ltd, a company which imported gas heaters from Spain for sale here. He moved to England in 1970 to run Super Ser's UK subsidiaries before resigning in 1979 and becoming involved in the production of underwater documentary films. He withdrew around £400,000 sterling from Ansbacher accounts in Dublin and London between 1990 and 1991.
Mr Goosen told the inspectors he had no personal connection with Ansbacher. He said he could not recall withdrawals totalling £400,000 but said they may be payments for the sale of his shares in Super Ser. Guinness & Mahon had brokered the sale, he said.
He said he sold the shares for £250,000 and didn't know why the withdrawals had been debited to Ansbacher. After further questioning, Mr Goosen said the funds had been invested in an offshore company in the Cayman Islands, set up by Mr Traynor.
He said he understood this was a legitimate procedure and that the Cayman company accounted for taxes where appropriate. He has not lived in Ireland since 1970.
49. Ms Clare Griffin
Ms Griffin was the partner of the late Mr Francis P. Glennon, the former owner of the Frank Glennon Ltd insurance business. The inspectors sought Ms Griffin's assistance but failed to contact her. The couple moved to Spain in 1984.
Some £110,123.60 sterling was transferred to Ms Griffin through Ansbacher's accounts in IIB in May 1993, while a further two sums of £50,000 sterling were paid to herself and her son jointly inoffshore accounts.
From at least 1990, regular sums were paid to Ms Griffin from an Ansbacher account, through Guinness & Mahon.
The inspectors believe the funds were under Mr Glennon's control and that Ms Griffin was not an Ansbacher client.
Mr Glennon died in April, 1992. On his death, he left £64,085 in two named accounts while the £110,000 sum was transferred in 1993.
The inspectors found that "substantial funds" were available to Ms Griffin, over and above Mr Glennon's known deposit and the benefit and interest accrued to Ms Griffin.
The inspectors tried but failed to contact Ms Griffin at her last known Spanish address and through her partner's former lawyer in Gibraltar.
50. Mr James Griffin Jnr
Mr Griffin Jnr, with a former address at Miami, Florida became a customer of Guinness & Mahon in 1987. He is listed as a director of Moby Marine Corporation but could not be contacted by the inspectors.
He negotiated a loan of $75,000 with Guinness & Mahon, apparently secured by a second mortgage on his property. However, at all times, the borrowing was backed by a deposit (amount not given) in the name of Ansbacher in Guinness & Mahon.
51. Mrs Jennifer Guinness
Mrs Guinness is the widow of Mr John Guinness, a former chairman of Guinness & Mahon and close friend of Mr Traynor. She received considerable media attention when she was kidnapped from her home in Howth, Co Dublin in 1986. She was held for eight days before being released after a Garda siege at a house in Dublin. Four men were sentenced.
The inspectors recorded withdrawals totalling £50,600 and $8,400 from Ansbacher accounts to Mrs Guinness's London account or to Mrs Guinness in travellers' cheques between December 1990 and May 1993.
Mrs Guinness held stocks and shares in a portfolio managed by Ansbacher. The proceeds of the sales of shares in this portfolio were lodged to an account in Ulster Bank and this money was converted from time to time to sterling drafts payable to Ansbacher.
Mrs Guinness said Mr Traynor told her that if she needed money, she should ask him for it. Sometimes the money was transferred to her bank account in England and other times she collected travellers' cheques from him at the CRH offices.
She told the inspectors the "cloak and dagger" aspect of the arrangement worried her and she believed people should pay their taxes. Availing of the tax amnesty was "a huge relief" she said.
52. Mr John Guinness, deceased
Mr Guinness was a director and chairman of Guinness & Mahon, and a close friend of Mr Des Traynor. In 1972 he set up a trust in the Cayman Islands for the benefit of his wife (see Mrs Jennifer Guinness, above ) and their children. He died in February 1988.
53. Mr Frank Hall
Information on Mr Hall is limited. According to the inspectors he appears to have been a UK resident and seems to have been linked to Sentinel Vehicles Ltd of Barden, Hampshire.
Mr Hall was the beneficial owner of a GMCT company, Beech Realty. GMCT provided a bank guarantee for £35,000 to Midland Bank for a venture between Mr Hall and another business man. The inspectors found that these GMCT backing funds were owned by Mr Hall.
54. Mr Charles J. Haughey
Mr Haughey is a former Taoiseach and leader of Fianna Fáil. Mr Traynor was his financial adviser and close friend.
Revelations of payments from Mr Ben Dunne to Mr Haughey led to the McCracken tribunal which drew attention to the existence of the Ansbacher accounts. This in turn led to the Moriarty tribunal as well as two Ansbacher investigations.
In 1982 Mr Haughey and his wife Maureen jointly sought permission from the Central Bank for a loan of £400,000 from GMCT for the development of their stud farm. The inspectors said no evidence had been found to show the loan was repaid.
The inspectors also drew attention to the questioning by the Moriarty tribunal about the source of a £200,000 lodgement which came from a GMCT sundry sub-account. It may have been a partial draw-down of the loan but Mr Haughey said this was not completely clear.
The inspectors said Mr Haughey had "a marginal involvement" in the Ansbacher scheme. The full investigation of Mr Haughey's affairs would be left to the Moriarty tribunal, the inspectors said.
However, they said two pieces of evidence seemed to show that at least some of the Ansbacher funds available to Mr Haughey was under his control as a £10,000 payment was made to his son Conor in September 1992 and a further £15,000 from Hamilton Ross (formerly Ansbacher) in November of that year. Mr Conor Haughey said he believed this was assistance from his father in the building of his house.
The inspectors sought Mr Haughey's assistance in their investigations but he forwarded a medical report from his medical advisers, which advised against attending.
The inspectors concluded that the potential benefit of the compulsory attendance of Mr Haughey was not of such importance as to warrant the use of their powers of requirement.
55. Mr Gerald Hickey, deceased
Mr Hickey was a solicitor and chairman of the Hickey Beauchamp O'Reilly firm. He was also a non-executive director of a number of corporations including the Industrial Credit Corporation, CRH and New Ireland Assurance. He retired from his legal firm in 1979 and died in 2001.
More than £200,000 was placed on deposit with GMCT /Ansbacher in the early 1970s. Mr Hickey met Mr Traynor when they were both directors of New Ireland Assurance in 1969. From then on he acted as a solicitor to Guinness & Mahon and also took part in meetings with Mr Traynor in which clients of Guinness & Mahon were advised on aspects of off-shore trusts.
Mr Hickey also undertook a number of property developments and had borrowings from Guinness & Mahon for these, some of which were described by Guinness & Mahon as being "suitably secured", the term used to indicate that a loan was secured on a deposit with one of their off-shore subsidiaries .
In the early 1970s he acted as liquidator to his company Clonmel Estates and gave the proceeds of the sale of the company's property (£211,000) to Guinness & Mahon who deposited it with GMCT/ Ansbacher.
In November 1971 he was offered an overdraft facility of £90,000 by GMCT secured on a back-to-back basis against the deposit. He told the inspectors he only realised in recent years that he was liable to capital gains tax on the distribution of funds from the liquidation of the company. He had since declared this to the Revenue Commissioners.
He said he had no knowledge of the funds being placed in an off-shore account and said this was done without his consent.
56. Mr Jorge Hine and Mrs Margo Hine
Mr and Mrs Hine are US residents who negotiated loans with Guinness & Mahon in the mid-1980s. One loan was listed at 101,000 (currency unspecified) in December 1986.
Their loans were backed by funds in GMCT. As with other US-based borrowers, the Cayman connection was referred to openly in Guinness & Mahon's records.
57. Mr Denis A. Jackson
Mr Jackson, from Monkstown, Co Dublin is a dentist. At all relevant times he was non-resident in this jurisdiction.
He was an Ansbacher client and had money on deposit through Mr Jack Stakelum.
58. Mr Thomas Jackson
Mr Thomas Jackson was a director of Monarch Properties Ltd, a property development company, in the 1970s.
A 1976 telex from Mr Traynor to Mr Furze of GMCT shows he had an account in GMCT at that time. The telex included instructions regarding Mr Jackson's account, from Mr Frank Lee, another director of Monarch Properties.
59. Jamila Pty Ltd
Jamila Pty Ltd had a loan with Guinness & Mahon in 1981. It is the ultimate holding company of Wilson Bishop & Co Pty Co Ltd. which also had borrowing in its own right from Guinness & Mahon with a Cayman Island connection.
60. Mr William Kearney, deceased
Mr Kearney was an obstetrician who lived on College Road, Cork. He died in September 1994. Documentation from 1976 showed he had a deposit account in GMCT at that time. Sums of $17,018 and $17,398 were recorded in the documentation.
His family's solicitors have rejected this finding. They said there was not sufficient evidence to show Mr Kearney was a client of Ansbacher.
61.Mr John Kennedy
Mr Kennedy is an accountant and director of Sheelin Homes Ltd. He has been involved in the building trade since the late 1960s.
Mr Kennedy established a trust in the Cayman Islands in 1986 following discussions with Mr Traynor. The trust funds were held by Penta Investments, a company incorporated in the Cayman Islands. These monies were on deposit in Ansbacher's bank in the Cayman Islands.
Mr Kennedy said Mr Traynor told him he would treat the money in such a way that it would be outside Mr Kennedy's control if questions were asked. He said the scheme depending on him placing total trust in Mr Traynor as he would have no legal control over the funds.
In late 1993/early 1994, he availed of the tax amnesty and destroyed all documents relating to the offshore investments.
62. Dr Colm Killeen
Dr Killeen is a general medical practitioner and was a neighbour of Mr Traynor and his doctor. He first met him in the insurance office of Frank Glennon. (See Francis P.Glennon, deceased)
From around the early 1980s, Dr Killeen gave Mr Traynor money to place on deposit. He said he believed it was with Guinness & Mahon and that they were paying tax on it.
In 1992, on hearing about Gay Byrne's loss of funds invested by his accountant, the late Mr Russell Murphy, Dr Killeen asked Mr Traynor where his money was. He was eventually told it was in an Ansbacher account. He has since made a settlement with the Revenue Commissioners.
63. Mr Richard Lawes, deceased
Mr Lawes, with a former address in Sevenoaks, Kent, died in February 1997. He was a businessman engaged in a number of businesses in this jurisdiction over many years.
A copy of a deposit dealing slip for £898,000 sterling for a GMCT account is included in the report.
The inspectors were satisfied that Mr Lawes was the beneficial owner of funds placed on deposit in Guinness & Mahon around 1976. The funds came from the payment of dividends to Picton Investments, with an address in the Cayman Islands, c/o Ansbacher.
64. Mr Frank Lee
Mr Frank Lee lives in Rochestown Road, Cork, and was company secretary of Westboro Investments Ltd. Mr Lee had a deposit account in Ansbacher in 1976, with an balance of $10,454.
65. Mr Michael Leyden, deceased, and Mrs Dorothy Leyden
Mr Leyden and his company, Leyden Farms, had a business relationship with Mr Jack Stakelum which involved the deposit of funds with Ansbacher. After his death in the mid-1980s, Mrs Leyden had a continuing involvement with Ansbacher funds until at least June 1991.
Some £78,000 sterling was withdrawn from an Ansbacher account in April 1990. A £40,000 sterling back-to-back loan was approved in 1976. Leyden Farms was incorporated in 1975 in England. As well as investing funds in Ansbacher, Leyden Farms benefited from back-to-back loans between 1976 and 1978.
66. Mr James Henry (Harry) Lindsay
Mr Lindsay is a former director of Super Ser and held a 50 per cent shareholding in the company.
In 1986, while working in Bangladesh, he wished to assure the college fees of his three children who were studying in the US. He contacted Mr Traynor, whom he knew through Guinness & Mahon. Mr Traynor deposited Mr Lindsay's Bangladesh earnings with Ansbacher and this arrangement continued for some years. In 1994, Mr Lindsay closed his account when his children finished college.
The inspectors believe all the funds in the Ansbacher account came from a source outside Ireland and were used exclusively abroad.
67. Mr Joseph Clayton Love Jnr
Mr Clayton Love Jnr is a property developer and a former non-executive director of Guinness & Mahon. He was a close friend of Mr Hugh Coveney.
In April 1971, on the advice of Mr Traynor, he established a trust in the Cayman Islands - The Elizabeth Love trust - to make provisions for his wife and children. The funds were held by Yale Securities, a trust asset, and placed on deposit with Ansbacher. Some £75,000-£80,000 was lodged with the trust by the Clayton Love trust.
From time to time he borrowed money from the trust but no repayments were made for some time.
In August 2000, he repaid all monies advanced by Yale to him. He was also involved in a US property venture with Mr Coveney and others, which set up a trust with GMCT.
Mr Love said he had no knowledge of the Ansbacher scheme until the publication of the McCracken report. He has rejected the inspectors' assertion that he was a client of Ansbacher.
68. Mr Bryan Lynam
Mr Bryan Lynam is the son of Mr Edward Lynam, a former builder.
In February 1994, Mr Edward Lynam transferred his Ansbacher deposit jointly into the names of his son, Bryan, and daughter, Ms Mary Maher. Mr Traynor routed the deposit through Hamilton Ross.
In February 1995, Mr Padraig Collery was instructed by Mr Bryan Lynam and his sister to close the account and transfer the monies to another bank.
Mr Bryan Lynam's solicitors pointed out that his father said he transferred the account into the names of his son and daughter for convenience purposes only and the beneficial interest still remained with him. They rejected the assertion that Mr Bryan Lynam was an Ansbacher client.
69. Mr Edward Lynam
Mr Lynam is a former builder who spent most of his career in E&J Lynam Properties in partnership with his brother, Mr James Lynam.
In 1979, Mr Edward Lynam opened a joint deposit account with his brother in GMCT/Ansbacher at the suggestion of Mr Traynor. The account was split into separate accounts for the brothers in 1987. Transfers of more than £42,000 sterling were made out of his account between March and September 1991. Mr Lynam said he transferred the account into the names of his son and daughter in 1994 for convenience purposes only and the beneficial interest still remained with him.
70. Ms Eileen Lynam
Ms Lynam is one of two daughters of Mr James Lynam, a partner in E&J Lynam Properties. Up until recently, she was the personal assistant to Mr Conor Brady, editor of The Irish Times.
Ms Lynam's father was becoming increasingly unwell in June 1995, when he divided his Ansbacher account into three separate accounts so that he, she and her sister could withdraw funds when required.
She knew the deposit was held in an offshore account in the Cayman Islands but she did not know the name of the bank at that time.
All three accounts were closed in 1997 after the existence of Ansbacher accounts had been highlighted in the media. A cheque was lodged to the Revenue Commissioners and the account fund returned to Mr Lynam.
Ms Lynam said she was not a client of Ansbacher as she never considered herself to be the true beneficial owner of the funds in any Ansbacher account.
71. Mr James Lynam, deceased
Mr Lynam, formerly of Sutton, Dublin was a partner in E&J Lynam Properties with his brother Edward.
The brothers' joint GMCT/ Ansbacher account shows lodgements of £322,299.17 in November 1979 and £326,781.56 in December 1979. The opening balance of his account in April 1997 was £91,003.56.
In 1979 Mr Lynam gave Mr Traynor money to invest jointly for himself and his brother Edward in the Cayman Islands. Mr Lynam insisted it was not a trust but a letter of wishes has references to a trust. The account was divided in two in 1987 and from 1990 onwards Mr Lynam made regular cash withdrawals.
In 1995 he divided the money into three accounts, two of which were for his daughters. All three accounts were closed in 1997.
72. Ms Mary Lynam
Ms Mary Lynam is one of two daughters of Mr James Lynam, a partner in E&J Lynam Properties. She did secretarial and accounts work for a few years before joining the family building company.
Ms Lynam's father was becoming increasingly unwell in June 1995 when he divided his Ansbacher account into three separate accounts so she and her sister could withdraw funds when required. She knew the deposit was held in an offshore account in the Cayman Islands but she did not know the name of the bank at that time. All three accounts were closed in 1997.
Like her sister, Ms Lynam said she was not a client of Ansbacher as she never considered herself to be the true beneficial owner of the funds in any Ansbacher account.
73. Mrs Hedli MacNeice, deceased
Mrs Antoinette Millicent Hedli Anderson MacNeice was a widow of the poet Louis MacNeice and lived in Kinsale, Co Cork until 1978. She died in France in 1990.
In 1978, Mrs MacNeice had a personal loan of £7,650 from Guinness & Mahon which was secured on a deposit of funds from GMCT. Withdrawals of money through Guinness & Mahon were debited to GMCT's account in Guinness & Mahon.
74. Ms Mary Meagher McCarroll
Ms Meagher McCarroll is an architect, now living in Dublin. She is the widow of Mr Patrick McCarroll who died in 2000.
A 1991 statement shows a balance of £20,133.27 on an off-shore account. Ms McCarroll lived outside Ireland from January 1987 to April 1991 and from September 1992 to May 1995. Before his death Mr McCarroll told the inspectors he had asked Mr Padraig Collery to set up an off-shore account for his wife in the late 1980s when the couple was working in the US.
Documentary evidence indicated that this account was with Ansbacher. It was closed in 1993. Ms Meagher McCarroll's solicitor said the suggestion that she was an Ansbacher client was "perverse".
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