Nama fraud trial set for January

Nama was set up by the Irish government to deal with toxic property loans after Ireland's banking crisis in 2008

The trial of two prominent Belfast businessmen accused of fraud in relation to a £1bn loan deal is now expected to begin in January 2025.

Frank Cushnahan, 82 of Alexandra Gate, Holywood, and Ian Coulter, 53 of Templepatrick Road, Ballyclare, have pleaded not guilty to all charges.

The charges relate to the sale of a loan book held by Ireland's National Asset Management Agency (Nama).

Nama was set up by the Irish government to deal with toxic property loans after Ireland's banking crisis in 2008.

Mr Cushnahan is charged with fraud for allegedly failing to disclose information to Nama between 1 April 2013 and 7 November 2013

Its Northern Ireland loan book was sold to a US investment fund in 2014.

Mr Cushnahan, a business consultant and former member of Nama's Northern Ireland advisory committee, is charged with fraud for allegedly failing to disclose information to Nama between 1 April 2013 and 7 November 2013.

Mr Coulter, a solicitor, is alleged to have made a false representation to a law firm on or around 11 September 2014.

He is also charged with making an article in connection with a fraud, namely a £9m invoice, on or about 13 August 2014 and two counts of concealing or transferring criminal property between 15 September 2014 and 1 December 2014.

Mr Coulter is alleged to have made a false representation to a law firm on or around 11 September 2014

Both men are accused of making a false representation to Nama and a law firm on or around 3 April, 2014.

At Belfast Crown Court on Thursday, a trial date was set for 13 January with the expectation it will last for eight weeks.

A review hearing is due to take place on 7 November.