Businessman Mr James Stafford and an associate indicated in 1993 they knew where £200,000 of investment could be found for a mining company of which Mr Conor Haughey was managing director.
Mr John Couglan SC, for the tribunal, asked about the incorporation and flotation in mid-1993 of Feltrim Mining plc, now known as Minmet.
He said it appeared Mr Stafford was the first person approached by Mr Haughey with the idea of incorporating the company.
Mr Stafford said he was a friend of Mr Haughey and gave advice to him.
He (Mr Stafford) had been interested in exploration and they discussed the project of exploring for diamond pipes in Canada.
He introduced Mr Emmet O'Connell, of Texas Continental Securities, to the project.
Mr Couglan said Mr Haughey had given evidence that Mr Stafford had provided £40,000 towards the costs of the promotion of the company.
Mr Stafford said he did not lend money so it certainly was not a loan. There may have been a financial requirement and he might have said he might procure an early subscription.
He personally did not invest anything but he believed there were certain trusts of which he may possibly be a beneficiary which did invest money in it and a lot of people would follow them as investors.
Mr Coughlan said Mr Haughey had given evidence that Mr O'Connell and he (Mr Stafford) may have invested in the region of £100,000 each or promised to invest that amount.
Mr Stafford said: "I think we made it quite clear that people who would be following us would subscribe in the region of this sum of money."
Mr Coughlan said £100,000 that Mr Stafford indicated he would invest would be through various trust vehicles of which he was a beneficiary.
"Not necessarily, I think that Emmet O'Connor and myself indicated we would procure £200,000 of investment and were fully flexible as to how we would do it, whether we put it in ourselves or whether we were to make up a shortfall or whether our followers were going to do it; we simply said we know where £200,000 could be found," said Mr Stafford.
Mr Coughlan asked whether he could now remember how it was put together.
Mr Stafford said he had no files as they were destroyed after six years.