KEVIN PHELAN:THE MORIARTY report says it is satisfied that a property consultant was paid £150,000stg so as not to "further undermine" misleading evidence presented to the tribunal about Michael Lowry's involvement in UK property deals.
The report says Kevin Phelan, from Omagh, Co Tyrone, received a further £65,000 for “the principal purpose of presenting a contrived falsehood” to the tribunal in relation to altered documents.
It says the payments came from companies in which Mr Lowry and businessman Denis O’Brien had interests – Vineacre and Westferry respectively – and that they were made in 2002.
Kevin Phelan, who located properties in Britain that he believed might be of interest to investors, was involved in property deals in Cheadle, Mansfield and Doncaster in England that involved Mr O’Brien, Mr Lowry and Aidan Phelan, an accountant and close associate of Mr O’Brien.
The report notes that Kevin Phelan had made or threatened to make complaints to professional bodies against Aidan Phelan and others involved in the property transactions in 2002.
It says Denis O’Connor, an accountant used by Mr Lowry, had been instrumental in securing the withdrawal of these complaints or threats of same.
The report says it is satisfied that Kevin Phelan “whilst refusing to attend as a witness, he nonetheless sought to engage directly and indirectly with the tribunal, and in doing so, provided untruthful and misleading information so as to secure advantage for himself in his dealings with Mr Lowry”.
“Payments totalling £215,000 stg” were made to Kevin Phelan in March, April and August of 2002, the report notes.
The payments were made at a time “when it was clear that Mr Kevin Phelan, by his actions, had already sought to undermine the false account, documents and testimony tendered to the tribunal”.
