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Secrets of the pounds 38m cash trail.

A mystery pounds 38million slush fund in the Caribbean will be the focus of a new 'payments to politicians' corruption probe, it was revealed yesterday.

Investigators will bid to follow the "money trail" to the accounts of the Ansbacher Bank on the Cayman Islands where the cash was stashed.

That was where shamed former Taoiseach Charles Haughey kept his pounds 1.3million gift from stores tycoon Ben Dunne.

The fund was revealed at the original Dunnes probe, but lawyers were blocked from access to the Ansbacher books.

The inquiry will try to answer two of the most asked questions in the wake of the Dunnes probe:

Did any other Irish businessmen fund Haughey's champagne lifestyle?

Did any other public figures keep secret money in the offshore accounts?

At a Cabinet meeting on Tuesday, ministers failed to agree terms of reference for the new tribunal.

But yesterday Government Chief Whip Seamus Brennan revealed the inquiry would focus on the "money trail".

He said the probe would have the teeth to fully examine the financial affairs both of Haughey and embattled ex-minister Michael Lowry, who is still clinging to his Dail seat despite calls for his resignation over tax evasion.
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Author:Leslie, Neil
Publication:The Mirror (London, England)
Date:Sep 4, 1997
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