# "Central Bank engages criminal lawyers"



## Brendan Burgess (23 Dec 2017)

*Bank chiefs could face criminal cases over massive tracker scam*

I don't understand this. 

"Criminal lawyers have been engaged by the Central Bank to see whether cases can be taken against the bank executives behind the tracker scam.

A leading senior counsel and international banking lawyers have been drafted in to build criminal cases to go after senior individuals in the banks that made the decisions to deny people their right to a good-value tracker mortgage."

Surely it's the role of the Gardai to investigate criminal matters? 
They submit the evidence to the DPP
The DPP decides whether to bring charges or not. 

If the Central Bank sees evidence of criminal activity, is its role not to bring that to the attention of the Gardaí? 

It is not its role to "build criminal cases." 

Of course, the Central Bank has commenced enforcement investigations against lenders and individuals.  But that is a completely separate process.


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## IdesofMarch (23 Dec 2017)

Hi Brendan,

Sabre rattling and optics spring to mind, but I suppose there is no harm in getting expert legal opinion of when certain actions and non actions by high level management within the financial institutions become criminal in nature.


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## SaySomething (23 Dec 2017)

According to the UCD School of Law's Twitter account.

The Central Bank have hired Dr Paul Anthony McDermott to head a team examining whether senior executives in banks could face criminal charges over the tracker mortgage scandal.

I would have thought that was a function of the ODCE or Fraud Squad? Unless there are separate possible criminal actions which require examination?


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## Brendan Burgess (23 Dec 2017)

Thanks SS

That is very interesting. 

Presumably they are getting  counsel's opinion on whether it amounts to criminal activity so that they can then decide whether to report it to the Gardaí or not. It might be that if they feel that there is a realistic chance of a criminal conviction, then that would take priority over their own sanctions regime. 

Brendan


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## IdesofMarch (23 Dec 2017)

I believe Government is planning on scrapping the ODCE. The CBI sanction scheme against a firm as a whole should not interfere with a criminal investigation in relation to an individual working for that particular firm.


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## Delboy (23 Dec 2017)

The Gardai simply don't have the where-with-all to deal with a case of this nature. Or any complex white collar issue for that matter.
And as Ides sais, the optics play a part


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## Dan Murray (24 Dec 2017)

It's to be welcomed that bank executives are to be investigated for the tracker scandal.

Of course, it would also be very welcome if an investigation was conducted into the "green jersey agenda" to establish the veracity of such claims and the extent of involvement by Central Bankers in it - otherwise, there is one set of rules for one cohort of bankers and a different set of rules for another. _Quis custodiet ipsos custodes?
_
IMEO, the Central Bank is not fit for purpose which I will elaborate on when time permits.


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## Somar (30 Dec 2017)

RE POST:

Would imagine any criminal investigation into the current tracker mortgage scandal would eventually include current managerial staff in all banks also as the cover up over the years appears to be  corrupt to say the least.


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## Brendan Burgess (30 Dec 2017)

Somar said:


> as the cover up over the years appears to be corrupt to say the least.



Hi Somar

I presume that you have forwarded your evidence for this to the Gardaí? They would be delighted to get it as my understanding is that no one has yet given them any evidence of criminal activity. 

Brendan


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