By Liam Deegan
As an update to a previous post, it seems that the old adage of the three monkeys who hear no evil, see no evil and speak no evil remains as true as ever. The Irish Stock Exchange run by stockbrokers (Davy,Goodybody,etc) did not report to the Office of the Director of Corporate Enforcement (ODCE) that there was a huge spike in share trading in Siteserv prior to its sale to Denis O’Brien.
This “small omission” was made because the very people involved in the insider dealing were also the same people who were also supposed to report the unusual spike in activity to the (ODCE) which they didn’t. This suggests that they were trying to hide the activity from not only the public gaze but also from the responsible body that might have been able to put a stop to the sale pending an investigation.
In what now seems to a concerted effort by the Irish Stock Exchange to facilitate insider trading in the Siteserv deal, it is now beyond the scope of the ODCE to investigate the matter and should now be treated as a criminal matter. However this author knows only too well that no criminal investigation will ever take place under this current government given their track record for facilitating corruption in the first place and using the law to become a private security company instead of using it to investigate real crime or maybe white collar crime doesn’t count anymore.
The government and its lackeys hate the publicity and attention that they are receiving lately but this is only the tip of the iceberg… What they can’t see is the rest of the iceberg floating just below the surface where the real damage is being done. It only took a small series of rips in the bow of the Titanic and the rest is history…