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Frank Fahey , Eircom shares and his blatant disregard for SIPO


mmrebel

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Jan 24, 2009
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758
This another piece of brilliant work from the lads over on The Story

I
n his declaration of interests to the House of the Oireachtas Frank Fahey states he holds shares in Ryanair, Irish Life and Permanent, Aviva and Eircom. I see no way he could possibly hold shares in Eircom.

To my knowledge it’s not possible for him to hold Eircom shares since the Valentia takeover in 2001. Eircom shareholders at that time would have had to cash-out or take Vodafone shares.

Strangely, Deputy Fahey declared shares in Vodafone in 2005 and 2006, then Eircom shares in 2007 and every year since. Therefore, if I am correct, and I’ve asked around to try to find someone who could tell me I’m not (anyone?), Deputy Fahey has made an incorrect declaration for the last three years.

I asked his assistant how I could put some questions to the deputy and was told to send an email to the office address. I sent the following email on April 1, eight days ago;
read more The Story

Mark Coughlan gets his hands on the Teflon TD Frank Faheys mobile number here is the conversation that followed.

MC Hi is this Frank?

FF Yes, who’s this?

MC Mark Coughlan, I’m a freelance journalist, I’m calling you to ask about your shares in Eircom. I sent you an email last week which your staff said you’d got.

FF What about my shares in Eircom?

MC Well to my knowledge it’s not possible for you to hold shares in Eircom since the takeover. You’d either have had to take the payout or take Vodafone shares when Valentia took over a few years ago…

FF Right… I’ll have to get that sorted so.

MC … Eh… This is the second such incident with your declaration of interest this year. You also failed to note your stake in Sage Construction but you corrected that with the clerk of the Dáil after the Mail contacted you. I mean, how long exactly did you spend compiling the declaration?

FF Listen… Who am I speaking with?

MC Mark Coughlan, I’m a freelance journalist.

FF Right. Who do you write for Mark?

MC I’m freelance.

FF Right. Listen can you put something in writing?

MC I’ve already done so and your staff said it was put to you. Which address should I send it to now?

FF My Oireachtas one.

MC Right so. Good luck
We will now be making a complaint to the Standards in Public Office Commission about the incorrect details on Deputy Fahey’s declaration. He also failed to declare his stake in Sage Construction for the last two years.

Hopefully SIPO can figure out the situation in relation to Deputy Fahey’s claim to hold Eircom shares. I can’t, and it seems he won’t answer my questions to explain.
The Story

Its about time this part time politician a man who is not fit for public office is taken to task on his blatant disregard for SIPO and the public who pay his more than generous salary .
 


mmrebel

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Oh and SIPO can do nothing unless someone writes a letter to complain about it.
 

flavirostris

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It's a pity these guys seem to keep forewarning Fahey so he can cover his tracks but good detective work nonetheless
 

spidermom

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So many shares/interests so little time...??....and then theres pesky SIPO....!!...sigh!...poor Frank!!
 

Dreaded_Estate

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Makes you wonder what other investments Frank has left out of the register of interests.
 

DCon

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MsAnneThrope

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Well spotted by Mark. Probably a relatively minor amount but it will be interesting to see how it pans out...
 

mmrebel

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Well spotted by Mark. Probably a relatively minor amount but it will be interesting to see how it pans out...
Relatively minor ?? like 1 million euros he invested in a company called sage construction that he never declared to SIPO about ...................
 

Glucose

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Eagle eye spot.

Was incorrect so it was right to be corrected.

He probably meant to declare it even if he called it by the wrong name
 

hammer

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Kevin Doyle today, 8th February 2018

"FIANNA Fáil has backed a Dáil motion recognising the sale of Telecom Éireann was a bad move – despite being the party that sold it.
The party was this afternoon celebrating winning cross-party support for their calls to have the Government carry out a review of the National Broadband Plan (NBP).
But in an unusual development, they supported a Sinn Féin amendment to their own motion.

The amendment pushed for the progression of the NBP through State ownership, “recognising that the effects of the decision to privatise the State company Telecom Éireann in the past has had a negative impact on citizens and telecommunications services, and that State ownership would have facilitated a less complex and possibly less expensive roll out of broadband”.
Fianna Fáil leader Micheál Martin was part of the Cabinet that sanctioned the privatisation of Telecom Éireann in 1999."


Bumpety Bump. You gotta laugh

Fianna FAIL and Mehole Martian NUA :)
 

jmcc

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Fianna Fáil leader Micheál Martin was part of the Cabinet that sanctioned the privatisation of Telecom Éireann in 1999.
And turned an organisation that was relatively debt free and about to introduce ADSL/Broadband into a bankrupt wreck of a company and allowed the Fianna Fail crony O'Reilly and his Valentia gang to pick it up. What penalty would you impose on these FFers, Hammer? Would you approve stripping them of all pensions and assets to pay for their decisions?
 

Franzoni

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And turned an organisation that was relatively debt free and about to introduce ADSL/Broadband into a bankrupt wreck of a company and allowed the Fianna Fail crony O'Reilly and his Valentia gang to pick it up. What penalty would you impose on these FFers, Hammer? Would you approve stripping them of all pensions and assets to pay for their decisions?
Of course he won't .....FG will never put something in motion that would come back on their own in time and vice versa with the other shower.......
 

jmcc

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Of course he won't .....FG will never put something in motion that would come back on their own in time and vice versa with the other shower.......
That's the thing about FF/FG - scum sticks together. :)
 

Franzoni

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That's the thing about FF/FG - scum sticks together. :)
Isn't politicians pay linked with the civil service so presumably any sanction would also apply ..?...that's a boat Labour,Sinn Fein and the rest of them aren't going to rock too hard either with all them fishing for votes there now Labour is looking wobbly....
 

FrankGarrett

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And turned an organisation that was relatively debt free and about to introduce ADSL/Broadband
Do you have a source for this? I know they were very reluctant to introduce flat-rate dial-up but after some lobbying by Ireland Offline, they were forced into it by EU regulations.
 

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