Central Bank enlists senior counsel and lawyers to build cases against bankers

The Central Bank of Ireland has enlisted Paul Anthony McDermott SC and a team of top banking lawyers to build criminal cases against senior bankers involved in the tracker mortgage scandal, the Irish Independent reports.

Mr McDermott SC (pictured), a specialist in criminal and administrative law, will lead work to examine whether bank executives can be held personally responsible for their role in the scandal.

He will be working alongside an undisclosed number of unnamed experts in international regulatory law.

Derville Rowland, director general (financial conduct) at the Central Bank, told the Irish Independent: “We are going after individuals if there is evidence of financial culpability.”

The Central Bank has also met senior gardaí to discuss the issue, but An Garda Síochána is not presently conducting its own investigation.