THE DIRECTOR OF Public Prosecutions (DPP) is investigating whether assets linked to disgraced former solicitor Michael Lynn are the benefits of crime relating to his €18 million bank thefts.

Dublin Circuit Criminal Court heard today that the DPP is formally initiating the process of investigating Lynn’s assets, including three bank accounts containing €2.8 million that the prosecution believes is linked to him, as well as a house in Wicklow that was purchased by a corporation which is believed to be “strongly” linked to the former solicitor.

The Director of Public Prosecutions (DPP) is also in the process of investigating whether €3 million in assets that were confiscated by the Portuguese authorities are also linked to the crimes for which he was convicted, the court heard.

Lynn (55), formerly of Millbrook Court, Redcross, Co Wicklow, was found guilty by a jury of 10 of the 21 theft counts against him following a second Dublin Circuit Criminal Court trial last year.

He was jailed in February for five-and-a-half years for the thefts he carried out at the height of the Celtic Tiger in 2006 and 2007, when he was working as a solicitor and property developer. He was convicted of stealing a total of just over €18 million from six financial institutions.

The DPP is “engaged in enquiry as to the assets of the defendant in circumstances where it appears he is a person who has benefitted from the commission of this offence,” Joe Mulrean BL, prosecuting, told the court today.

He said Lynn was required to set out which allegations he refutes and which he accepts. The notice was being served under sections 9, 10 and 11 of the Criminal Justice Act of 1994, the court heard.

The property in question is a house in Brittas Bay where Lynn was living, which was purchased by a corporation, the court heard.

“That corporation, through its officers, is strongly linked to Mr Lynn himself,” Mulrean told the court.

There are also “three bank accounts with €2.8 million which we say are connected to Michael Lynn,” Mulrean said.

When asked by Judge Martin Nolan if these monies came from the thefts which were committed by Lynn, the prosecution replied:

“We can’t say with any sort of clarity if that is the case.

“It appears to the Director (of Public Prosecutions) that he has benefitted.”

Paul Comiskey O’Keeffe BL, defending Lynn, said the court had to be satisfied that Lynn had been served with the notice before adjourning the matter. He noted there may be further notices from the prosecution.

Judge Nolan agreed to adjourn the case, noting the matter is likely to be contested.

Comiskey O’Keeffe also stated his intention to apply for further legal aid for Lynn, in case that is not in place. Lynn has been on legal aid for both of his criminal trials. He has recently changed solicitor, the court heard.

The prosecution stated it may require a statement of means in that case.

The case will return to court on 8 July.