Paddy Kearney released from Cerberus loan debt thanks to Robinsons ‘influence’ #NAMA

Today more exclusive revelations can shed light on corruption, greed and criminality which runs to the very highest level of Government and corrupt property speculators. These white collar gangsters who have amassed millions upon millions of pounds of debt are now using the golden circle of political figures, property developers, fixers and businessmen to contrive together- using political influence- to ensure that the tax payer picks up the bill.

PBM, who recently have changed their name to Kilmona holdings in an illicit attempt to cover up the paper trail, had amassed hundreds of millions of pounds of debt through their loans. On 28th January 2015 it was announced that the company had refinanced their loans, held by Cerberus as part of its purchase of the NAMA loan book, via an American company. 

PBM is owned by Paddy Kearney, a friend of First Minister Peter Robinson and a tax exile living in Gibraltar who hasn’t paid taxes in twenty years. You will also see from the attached documents that the Solictors for Kilmona- PBM’s ‘new’ name- is none other than Tughans.  

 Following NAMA’s purchase of the NI loan book Paddy Kearney approached Peter Robinson through Alan Maines, a former RUC fraud squad officer ironically, and sought the First Minister to use his influence with Cerberus to have him released from his loan guarantees. 

Peter Robinson held a secret meeting with Jefferies, the American firm who agreed to refinance the PBM loanbook, and as a result secured a sweetheart deal for Paddy Kearney. This meeting was not in the OFMDFM diary or publicised. 

Extracts from the audited accounts of Kilmona holdings (PBM) are included in this blog. The accounts for year ending June 2014 were signed off by the directors on the 27th March 2015. In the declaration they have confirmed that “so far as each individual director is aware, there is no relevant audit information of which the group’s auditor is unaware.” Of course, missing within the accounts, which shows a loss of £216 million and a net deficit of £223 million, is the information relating to the refinancing of the Cerberus loans- the magic wand deal secured by Peter Robinson for his property developer and business cronies!  

The auditors, as you will see by a copy of their letter attached in this blog, have expressed concern over the accounts in relation to the Cerberus loans. 

It is not only Paddy Kearney that Peter Robinson is trying to have released from their loan guarantees, it is also Michael and Kevin Lagan- who of course benefited from the sweetheart NAMA deal for the Millmount site- and tax exiles Noel Murphy and Adam Armstrong. Adam Armstrong has previously been ‘close’ to Iris Robinson. 

Peter Robinson is using his son, Gareth Robinson and also ex RUC fraud squad officer Alan Maine to act as ‘fixers’ for his business cronies. What is startling is the involvement of another man, Ranald Ogilvie Coggle, an MI5 asset, who heads up Cerberus European Servicing Ltd. Maine and Coggle met during work Coggle carried out with the RUC Fraud squad some time ago. 

In the coming days more will be revealed, for the time being the media should enquire of the First Minister about his private meeting with Jefferies and his links to Alan Maine.


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