The inquiry into £100,000 believed to have gone from Mr Ben Dunne to Celtic Helicopters in November 1992 continued yesterday. The tribunal has spent a number of days dealing with the payment and, along the way, has begun to investigate the finances of the Haughey family.
Around the time Mr Dunne's money was seemingly heading towards Celtic Helicopters, the late Mr Des Traynor was approaching a number of businessmen asking them if they would take out a shareholding in the company.
He managed to raise over £290,000 in late 1992 early 1993. This does not include the money from Mr Dunne.
The names of these investors have been disclosed. One is Mr Guy Snowden, a former chairman and major shareholder in a US company which runs the National Lottery's computers. The others are Mr Xavier McAuliffe, Mr Pat Butler and Mr John Byrne.
Yesterday, another investor in Celtic Helicopters was named: Mr Cruse W. Moss, a former chairman of General Automotive Corp, a US company which bought the Bombardier plant in Shannon in the early 1980s and built and sold buses to CIE. The company ceased operations here some time in the late 1980s.
Documents shown yesterday indicate he took out a shareholding in June 1985, when Celtic Helicopters was being established. A number of investors are said to have contributed £80,000 at that time and to have included Mr Seamus Purcell, Mr Joe Malone, and the late Mr P.V. Doyle.
The tribunal has also inquired into Larchfield Securities, the company which holds assets for the benefit of Mr Haughey's four children. The company is known to hold shares in Celtic Helicopters in trust for a number of investors. It bought the shares Mr Moss had in Celtic Helicopters for £7,800 in May 1990. Larchfield also has its own shareholding in the company.
The tribunal has also heard that around the time Mr Dunne's £100,000 was seemingly being lodged with Celtic Helicopters, an investment of £100,000 in the company was being organised by an insurance broker, Mr Michael Murphy of Trinity Street, Dublin.
Mr Murphy has said the investment was on behalf of a business colleague, Mr David Gresty of D.B. Agencies, Monaco. Mr Gresty and Mr Murphy did business together. Mr Murphy said a cheque for £100,000 was made out and sent to Credit Suisse Bank, London, for conveyance to an account in the name of Ansbacher Ltd in Credit Suisse Bank, Zurich.
Mr Paul Carty, a partner in Deloitte & Touche, gave evidence yesterday in relation to the investment. Mr Carty said he got instructions as to where the Murphy cheque should be sent from Mr Traynor. The information was conveyed to Mr Murphy. Mr Carty said he believed the account to which the cheque was to be sent was linked to Overseas Nominees Ltd, a company which he indicated was controlled by an operation in Guernsey once owned by Guinness & Mahon bank, Dublin, and now owned by Credit Suisse.
Overseas Nominees Ltd was mentioned during the McCracken tribunal. It is part of the Ansbacher deposits and holds stocks and shares in the manner the accounts mentioned during the McCracken tribunal held cash. Evidence was heard during the McCracken tribunal that when Mr Charles Haughey's cash accounts in the Ansbacher deposits ran low, they were replenished from Overseas Nominees.
It seems the investors who put money in Celtic Helicopters in 1992/1993 were not issued with share certificates and that their investments were held in trust by Larchfield Securities.
Yesterday an accountant, Mr Kieran Ryan of Mount Street, Dublin, gave evidence about Larchfield. The company, he said, has the following assets: A house and lands at Ballyduboy, Kil muckridge, Co Wexford: a house and the island of Inishvickillane, Co Kerry; a cottage and lands at Lislarry, Co Sligo; the yacht Celtic Mist; and a shareholding in Celtic Helicopters.
The directors of the company are the four Haughey children but Mr Ryan told the tribunal they did not know the identities of the beneficial owners of the Celtic Helicopters' shares held in trust by Larchfield and purchased when the company was being established in 1985. When Mr Ryan asked Mr Charles Haughey about the shares, Mr Haughey said: "You better put that down to me."