A SOLICITOR who forged signatures to obtain loans from banks and building societies behaved in a “disgraceful fashion” causing serious loss to financial institutions and his clients, the chairman of the Solicitors’ Disciplinary Tribunal said yesterday.
Frank Daly said a solicitor was in a privileged position which lending institutions and clients held in high regard.
He was referring to the case of Dublin solicitor Thomas Byrne, whose practice at Walkinstown Road, Dublin, has been closed by the Law Society.
“Mr Byrne unscrupulously misused the system to perpetrate serious acts of misconduct. He paid little heed to solicitors’ accounts regulations and his fundamental obligation to honour his undertakings,” Mr Daly said.
Mr Byrne faced 64 charges in 15 categories at yesterday’s tribunal, including deliberate mortgage fraud, providing multiple undertakings on properties belonging to him and third parties, forgery and breaches of solicitors’ accounts regulations.
The tribunal heard evidence from a forensic accountant hired by the Law Society to examine the accounts of Mr Byrne.
Tim Roulston of KPMG said they decided to study undertakings against four properties which were included in documentation stored in Mr Byrne’s office.
He said further information was received from the Garda Fraud Squad which had removed files from Mr Byrne’s Walkinstown office.
He said the number of properties with multiple undertakings was “striking” and that the loans were in the names of both Mr Byrne and third parties.
He said the ownership of the four properties, in Clondalkin, Dublin; Delgany and Kilquade in Co Wicklow; and Pim Street, Dublin, was unclear, that stamp duty had not been paid on the properties and that no fees had been charged to third parties by Mr Byrne’s practice.
The monies investigated by KPMG were taken from six financial institutions, including EBS, ACC and Ulster Bank and amounted to some €56.5 million.
They were drawn down against four properties from a potential portfolio of 312 to which Mr Byrne has been linked, the tribunal heard.
Mr Roulston said he “could not see” how it was possible to deliver on these undertakings. None of the monies had yet been repaid, the tribunal heard.
The sitting was also told that Mr Byrne had forged the signature of a solicitor, Barbara Cooney, who worked in his practice, in order to acquire loans from two financial institutions. The tribunal heard that Ms Cooney, who was not present, had contacted the Law Society about the issue as she felt it was a “serious matter” that she had been attached to an undertaking without her knowledge.
Mr Byrne’s representative, Seán Ó Síocháin, appealed for leniency in his submission and said his client currently had no income, his financial position had “imploded” and that he would not be able to practise in the State. “His career is essentially destroyed,” he said.
