SF's O Caolain "guaranteed return" on investment in paper

A very interesting report in the Irish Independent. It seems that the Sinn Féin leader in the Dáil, TD Caoimhghin O Caolain canvassed investors for ‘Daily Ireland’ – the “not a Sinn Fein paper or a mouthpiece for any political party”, according to publisher and former SF councillor Mairtin O Muilleoir. However, The Irish Independent quotes from the letter, “written on Dail notepaper and personally signed ‘Caoimhghin O Caolain, Sinn Fein Dail Leader'”.. A letter that, the report points out, contains inaccurate information and claims which O Caolain has stated were supplied by Daily Ireland.. hmmm

As the report notes –

Mairtin O Muilleoir, who launched his paper with a Stg£3m (€4.4m) budget last month, has begun a legal action against a Sunday newspaper for linking Daily Ireland to the Provos.

Yesterday Mr O Muilleoir said: “We’re not a Sinn Fein paper or a mouthpiece for any political party.”

In which case the letter makes for interesting reading –

A letter written on Dail notepaper and personally signed “Caoimhghin O Caolain, Sinn Fein Dail Leader” begins: “I write to draw your attention to an attractive investment opportunity, which offers not only a guaranteed return but the special satisfaction of being involved in the launch and development of an Irish Daily newspaper that will be unashamedly on the side of Irish unity and Independence.”

The “guaranteed return” is picked up on later in the report.

But the letter also names Phil Flynn as a Director.. something that Daily Ireland denied after Flynn resigned from various boards following the disclosure of his connection to Chesterton Finance.

The letter also describes former chairman of the Bank of Scotland (Ireland), Phil Flynn, who is a former vice-President of Sinn Fein, as a director of the newspaper. But the publisher of ‘Daily Ireland’ says this was “a mistake”.

Deputy O Caolain’s letter said: “A guaranteed return after seven years is part of the attractive package.” Mairtin O Muilleoir said the guarantee was inaccurate.

A Caoimhghin O Caolain spokesman said the information in the letter was given to him by ‘Daily Ireland’.[emphasis added]

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