Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

Mr. Watters said that "at this point I felt assured that £7.5m would be paid to Cadogan Futures LLP." He talks about a meeting on 4 July 2013 at Tughans. This letter was sent to Mr. Frank Cushnahan with a cover letter. Mr. Cushnahan was a member of the Northern Ireland advisory committee to NAMA. The more that unravels regarding this deal, the more genuine concern is generated. There are lots of allegations flying wildly about, but we do know some facts. We know that there is £7.5 million lying in an offshore account to be picked up by third parties. We know Pimco originally raised the red flag about this in terms of concerns about fees paid to third parties. We know that. Pimco says it subsequently pulled out voluntarily, but NAMA says it forced Pimco out.

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