A former solicitor has pleaded not guilty to stealing €27 million from seven financial institutions.
Michael Lynn, with an address at Millbrook Court, Red Cross, Co Wicklow, is accused of doing so through multiple mortgages on the same properties.
Between October 2006 and April 2007, Michael Lynn is accused of stealing €27m, through twenty-one mortgages from seven different lenders.
The amounts vary from €215k to €4.1m.
It is the prosecution’s case that he did so by securing multiple mortgages over the same properties.
It will be alleged that his statement of affairs, which was used in the application process, was not prepared by an accountancy firm, as purported.
It will also be alleged that letters of undertaking, supposedly signed by a solicitor, were in fact forged.
'A web of deceit,' was how the prosecuting barrister described the alleged scheme.
Aside from investment properties, the jurors were told the purchase of a family home in Howth, Co Dublin forms the basis of three counts on the indictment and represents 11.7m of the 27m alleged to have been stolen.
