MR LOWRY told how money was transferred from offshore accounts to an account in Cork around the time he was buying a new house in Tipperary in May and June of 1992. He said this happened after he went to the chief accountant of Dunnes Stores and asked for monies due so as to facilitate a mortgage.
Mr Lowry said he supplied the number of his account with the Irish Permanent in Cork to Mr Michael Irwin, the chief accountant. He told Mr Justice McCracken that he did not recall signing any document.
Money from an account in the Bank of Ireland in the Isle of Man, opened in October 1990 with a payment of Pounds 25,000 sterling, was transferred to Cork. This account had been opened by Dunnes Stores for him and he did not recall signing anything, Mr Lowry said. The money was transferred with interest and the total came to Pounds 31,910.
A further sum of Pounds 46,536 was transferred. This was from an account of Badgworth Ltd in Rca Brothers Bank in the Isle of Man, into which Dunnes had paid Pounds 40,000 sterling for Mr Lowry a year earlier, in August 1991.
On June 5th a lodgement of Pounds 90,000 was made. This was Pounds 40,000 which came from a Dunnes Stores company in the Isle of Man, Tutbury, along with a Pounds 50,000 cheque which Mr Lowry had been handed by Mr Irwin.
Mr McCullough referred to a number of payments during 1989 to 1992. Mr Lowry said these payments, for Pounds 6,000, Pounds 8,500, Pounds 8,000 and Pounds 12,000, were for Christmas bonuses for his staff.
A payment of Pounds 6,500 in July 1991 related to the purchase of a site near Thurles by his company, Garuda Ltd. The money came from Dunnes stores as part of a loan of Pounds 165,000 which had been mentioned last Thursday.