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Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: There is an investigation now. A Garda investigation.

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: Yes, but just be conscious of language.

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: In doing so, do not identify anyone-----

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: -----because there is a Garda investigation.

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: Deputy, that is not for-----

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: I thank Mr. O'Loughlin. In the earlier part of the meeting we started discussing the Mazars report. It is just such a length of time and the IHRB does not seem to have a timeframe for when it may conclude. Is that correct?

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: I understand that but-----

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: Is Mr. O'Loughlin's view that it will conclude within the next couple of months?

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: Okay. My understanding was Mazars was examining this matter of the €350,000 and that unusual transfer and other things that happened in relation to finance during that time. From what Mr. O'Loughlin said a few minutes ago, it is examining all matters regarding the accounts of the IHRB over the past six years. Is that what he said?

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: I appreciate that.

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: Is that a precautionary thing or did it come to light, maybe, that at the point of where this issue arose regarding this €350,000, there were a number of other matters that looked to be not as they should have been, in terms of financial records, etc.?

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: It was just a general sweep.

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: Mazars is a very professional outfit. Mr. O'Loughlin must have some indication. It will have advised Mr. O'Loughlin at this point, and I do not want to get him in the wrong, or have him make a statement that he cannot stand over. However, to be fair to him, is it likely that this report will come in the next two or three months?

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: Mr. O'Loughlin does not have control over that. I am sure he is urging this matter is progressed.

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: It is important it is concluded and acted on fairly quickly afterwards. Will Ms Eade return to Deputy Cannon's question about the economic figures on the value of the betting tax to HRI?

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: In regard to the plant, Mr. Sheahan confirmed that the witnesses can enter any building where horses are being kept. What was shown in the programme is all we know. Obviously there is a live investigation into it by the Department and by An Garda Síochána. In terms of switching microchips or adding a microchip, would there not be a wound on the animal from that?

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: An incision is made.

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: It would appear from the programme that spray paint was used to camouflage it.

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: It is a very serious matter. It takes apart the traceability.

Public Accounts Committee: Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board
(20 Jun 2024)

Brian Stanley: Okay. The investigation will reveal more. On the Curragh Racecourse development, there was equity investment of €23 million, a capital grant of €12.5 million and a convertible loan of €9 million and rent of the facility of €500,000. In terms of public funds, am I correct in saying there is €45 million?

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