Former Esat boss Denis O'Brien has been questioned today at the Moriarty Tribunal about an offshore account in the Isle of Man used for the purchase of a Spanish townhouse in 1996.
Mr O'Brien transferred £150,000 for the purchase from this account to another account on the island of Jersey which had been opened by Fine Gael fundraiser David Austin.
Mr O'Brien told the tribunal that Mr Austin wanted it this way because he was living offshore.
The inquiry heard that the money was then given to former Communications Minister Michael Lowry, who claims that the money was in fact a loan.
Both Mr O'Brien and Mr Lowry deny any connection between these transactions.
However in earlier evidence, former Esat chief executive Barry Maloney said a short time after this in November 1996, Mr O'Brien told him he had to pay £200,000 in relation to the Digifone licence and identified Mr Lowry as a recipient of £100,000.