Bankers could be jailed for lying to Central Bank under a new bill from Sinn Féin.

Bankers could be jailed for lying to the Central Bank under a new bill from Sinn Féin.

It would see the law changed to allow prosecution of individual bankers, with a possible jail term of up to 5 years.

Pearse Doherty.

At the moment individuals can't be held to account and only the institutions may be sanctioned.

Sinn Féin's Finance Spokesperson Pearse Doherty says that is not good enough.

He said: "Even if they knew that they were lying through their teeth, they also knew that nothing could be done to them, that they couldn't be brought before a court of law, couldn't be held accountable for their actions and they wouldn't see the inside of a prison cell as a result of it.

"This legislation will now make it clear to any banker that if you try this again, if you try to mislead the Central Bank, if you deliberately lie to the Central Bank, then you yourself could be spending a stretch in Mountjoy for the next five years."

- Digital Desk

 

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