The Public Prosecution Service (PPS) yesterday announced that Mr Coulter, 49, and businessman Frank Cushnahan, 78, would face charges connected with the controversial sale, which became the centre of a major political scandal in 2015.

Solicitor John Finucane, representing Mr Coulter, said: “Today the PPS have confirmed that Mr Coulter will face a total of five charges arising out of the sale of the NAMA loan book, known as Project Eagle.

“This follows a police investigation which has lasted in excess of five years. My client now enters into what will undoubtedly be a lengthy court process lasting years, where he will maintain his innocence to the offences alleged, as he has throughout this drawn out process.”