Pimco pulled out of a £1.1bn Northern Ireland loan deal in 2014 over concerns about undisclosed benefits for former advisor Frank Cushnahan, who denies fraud charges.

A U.S. investment firm, Pimco, withdrew from a £1.1bn Northern Ireland loan deal in March 2014 after raising concerns about undisclosed financial benefits for Frank Cushnahan, a former advisory committee member, according to testimony from NAMA’s senior solicitor Alan Stewart. NAMA’s board later expressed worries about potential insider advantages, but no investigation was launched, and no report was made to police. Cushnahan and co-accused Ian Coulter deny fraud charges related to the deal, with prosecutors alleging they concealed key information to gain financially. The trial continues.