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NAMA uncovers €42 million in hidden assets

Nama has identified more than 42 million euro in assets, hidden by its developer clients – after hiring private investigators to chase them down.

The Sunday Times reports the state agency identified the haul, through asset searches up to the end of last year.

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The figures were presented last week to finance minister Michael Noonan.

Nama has spent almost 2 million euro on private investigators over the past 4 years.

Mr Noonan said the agency used investigators, when he believed any of its 800 debtors hadn't fully declared their assets.

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