‘Man of mystery’ Con Horan keeps it minimal

IT was day 22 in court 19 as the long-awaited first witness from the Office of the Financial Regulator took the stand in front of an exhaustedlooking jury. Con Horan, a man whose name had been repeatedly referenced in recent weeks but of whom little is publicly known, settled into the witness box shortly before lunch.

Dressed in a smart grey pinstripe suit and co-ordinating tie, he carefully poured himself a cup of water and waited for the first question.

Below him, on his left, Seán FitzPatrick was munching his way through his second packet of mints. Dressed in a navy suit and bright green and navy tie, his face noticeably drawn since his first appearance in court more than a month ago, he studied the witness.

Sitting beside him, Willie McAteer, dressed in a dark grey suit and pink tie, peered blankly over his glasses. At the end of the bench, Pat Whelan struggled to suppress a yawn.

In an unmistakably thick north Dublin accent, Mr Horan began to explain the role of the Domestic Standing Group, a group that included members of the Financial Regulator’s Office, the Central Bank and the Department of Finance.

He sat hunched over in his chair, looking slightly sheepish, but smiling occasionally. As he spoke, a large gold ring on the little finger of his right hand glinted off a fluorescent light.

‘I reported to Patrick Neary,’ he said, matter-of-factly. In the same tone, he recalled Good Friday 2008, the day he became fully aware of the Quinn CFD position in Anglo.

‘It was a significant problem,’ he admitted, with little or no concern in his tone.

The global financial difficulties had already begun, he said, and over St Patrick’s weekend there had been ‘a mini-run’ on Anglo.

Aside from the occasional sip of water he remained motionless as he answered the questions. There were no fancy words used, or complicated financial jargon. He kept it simple, minimal, monotone.

As the evidence continued, Seán FitzPatrick made careful notes, smirking occasionally to himself.

Cross-examination had begun but if anyone was expecting an entertaining exchange, they were left disappointed. Defence counsel Brendan Grehan quizzed Mr Horan about references to the financial regulator in a draft agreement between Anglo and Seán Quinn.

According to Mr Grehan, a request had been made to remove the reference.

For the first time, Mr Horan looked momentarily rattled. Waiting for it to pass, he reached for water bottle number two and poured himself a drink.