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Irish Mirror
Irish Mirror
National
Ferghal Blaney

Pearse Doherty says KBC mortgages scandal was 'the biggest robbery in the history of the state'

Pearse Doherty has described the KBC mortgages scandal as “the biggest robbery in the history of the state.”

The Sinn Féin deputy leader and spokesman for finance said it was a “disgrace” that none of the white collar criminals in the banks had gone to jail.

He wants to see some of them “locked up.”

And he compared their freedom to the situation where the poor and hungry would be sent to Mountjoy Jail if they were caught stealing a loaf of bread.

Mr Doherty said about the KBC executive: “They took family homes, they took a lot more than just the money out of people’s pockets - they robbed these families of opportunities.

“Until bankers can face punishment, not just in terms of personal fines, but the idea that they could be locked up for what they have done, this type of culture will repeat itself.

“If I was one of the 11 families who had lost their home, if I was sitting down with my children tonight and that sanctuary of ours was taken away, this €18million fine would not be enough.

“Individual bankers need to be held to account.

“If you go across the road and steal a loaf of bread, you could end up in Mountjoy tomorrow morning.

“If banks come together and take €1billion from 40,000 customers, including the roof over families’ heads, not one banker is going to be arrested.

“Not one banker is going to be sacked.

“Not one banker is going to be held to account.

“That is not acceptable.

“KBC took €154million from their customers.

“Imagine if it had worked out for them.

“Imagine some of the consumers didn’t take the case to the Financial Services Ombudsman that opened the floodgates, think of what they could have got away with.

“Nobody is ever going to be held accountable in banks and that is the problem.

“This is the biggest robbery in the history of the state and not one person is going to be held accountable for it.

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