Overview

• Frank Cushnahan, 83, and Ian Coulter, 54, are on trial at Belfast Crown Court over alleged fraud linked to NAMA’s 2014 sale of Northern Ireland loans, and both have pleaded not guilty.
• On the third day of opening statements, Jonathan Kinnear KC told the jury there is "not a shred of evidence" that then–First Minister Peter Robinson received any money from the deal.
• The court was told of a covert recording from 4 November 2013 in which Cushnahan discussed bringing PIMCO into the process and an expected success fee of about £2 million.
• Prosecutors say Cushnahan failed to declare conflicts at Northern Ireland Advisory Committee meetings in 2013 while assisting PIMCO, citing emails, minutes and letters shown to the jury.
• The Crown alleges Cushnahan and Coulter, working with Tuvi Keinan, pursued a plan to sell the entire loan book in one piece and sought political backing for a PIMCO-led outcome.