Mr. Jerry Beades:

These are the questions we never got answered. Every entity should have a banking licence and be registered. One should be able to go to the Central Bank website and see that. I could give an example involving AIB. We found 27 entities and the joke among some of the groups was that when somebody came, they would ask from which bank they came. Although they would say it was a branch, we could ask which legal entity of Ulster Bank was involved, as there were so many of them. Somebody involved with AIB had receivers appointed and I asked which AIB entity was involved. He asked me what I meant. He came back to me two days later and I ended up going to the companies office and discovering AIB Finance and Leasing and I think AIB Leasing and Finance. There were five or six leasing divisions in AIB that the ordinary person could see from the headed notepaper. The man discovered he had vehicles repossessed by the wrong division of AIB. That issue is now in court. All these banks were playing ducks and drakes with tax evasion and everything else. They were lending money out with one company but if they had more profits in another company, they could write it off and bring money back. The Central Bank is not regulating any of it.