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Monday 28 July 2014

WHERE IS THE RENT ROLL AND PROFIT OF 50 MILLION GOING?

Looking at Quinn Group calendars from 2008/09, it is evident that the Quinn family owned property in 7 countries including Ireland, England, Czeck Republic, Turkey, Ukraine.

These properties were uncontested and they did not move, so one has to ask "where is the 50 million rent roll and profit from these properties going and is the Dept of Finance aware of what is happening this money?". Is the State getting this money or is the Quinn money instead being used to fight the Quinns as suggested by Sean Quinn in a recent national broadcast?

What about the assurances that we were given over and over again, that the least costly option for the taxpayers would have to be taken? Was that a joke or were we supposed to take it seriously?

It is time for this question to be brought up in the Dail as we need full transparency. We all know to the penny about the Quinn finances but what about all this missing money?

It appears that the Quinn family may have been far too generous when dealing with the State. We know that they did not dispute the debt of approx. 445 million and UP TO THE DAY THAT THE QUINN GROUP WAS SEIZED, THEY WERE PAYING OFF THAT DEBT, BOTH INTEREST AND CAPITAL.

How much of that 445 million has been repaid by the Quinn Group since it was seized from the Quinn family? We suspect "not a red cent".

We also know that they offered to pay the State 2.8 billion despite the fact that 2.3 billion of that money was advanced illegally by Anglo for Anglo. Did Sean Quinn or any of his family ask for, or sign forms requesting this money? If the answer to that question is NO, then this entire affair is most definitely going to blow up in the face of the decision makers like never before, and threatens to make our country a laughing stock on the world stage.

Back to the 445 million, there are now serious questions to be perused about whether in fact that debt is legitimate either.

It is now apparent that Anglo formulated deal after deal to advance money to the Quinn family to prop up the share price of Anglo (it is also evident that this was done for the benefit of Anglo and not the Quinn family). The Anglo Tapes also confirm that this money was advanced despite the fact that there were instructions from Anglo bosses THAT ALL LENDING CEASE DUE TO THE PRECARIOUS SITUATION OF THE BANK..

Each deal superseded the previous one. DOES THAT NOT INVALIDATE THE PREVIOUS ONES INCLUDING THE 445 MILLION? The devil is in the detail and this appears to be pretty compelling detail.

Since it is also apparent that because there was fraud involved, is it not safe to assume that the 445 million was also tainted debt.

In the space of less than 4 years, our State and our taxpayers may well have gone from a situation where the Quinn family were prepared, and went to great lengths to put a proposal in place to pay the State 2.8 billion which included the 445 million, to the situation as it is today, which by all appearances indicates that the QUINN FAMILY NEVER OWED THE STATE A CENT.

Now, the only question remaining is; "When are the politicians going to listen to John McCartin and talk to Quinn or are they going to sit on the fence until we are forced to pay the Quinn family several billion euros for the greatest injustice ever perpetrated on any family in this State?"

McCartin has done way more than his share and there is also a HANDFUL of other public representatives who have been plugging away and trying to get justice but what about all those who are sitting idly by and waiting to see where the penny drops.

It is imperative that all elected representatives come out and do their job. It is entirely inadequate to come out and wish QBRC well, now that the table is turning, while at the same time totally ignoring the fundamentals of this scandal.

After all, billions of euros and thousands of jobs are at stake. If these are not high enough stakes to make them move, they do not deserve to be paid from the public purse.

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