The PSNI has launched a criminal inquiry into the sale of NAMA's Northern Ireland Property Portfolio.
The organisation says it comes as a direct result of claims made by Independent TD Mick Wallace.
Deputy Wallace alleged that an audit of Belfast legal firm Tughans found £7m (€9.83m) of funds in an Isle of Man account, which was "earmarked for a Northern Ireland politician."
The alleged rtransfer concerns Project Eagle, which was sold for €1.5bn to US private equity firm Cerberus despite being worth €4.5bn.
The PSNI says there is sufficient concern to instigate their inquiries and it intends to work with other law enforcement bodies as part of the investigation.
Chair of the Public Accounts Committee Deputy John McGuinness says it's an important development:
