The transfer of €500,000 from Bank of Ireland Private Bank to the Jersey-based account of Spice Holdings, a company with investment ties to Brendan Mullin, in December 2011 was likely a “processing error”, the accused told gardaí. Mullin, the former managing director of the private banking arm of the BOI group, said the bank made several errors at the time as it was subject to a new Central Bank regime on client asset requirements (Car) and had been reprimanded on several occasions. While he accepted he introduced Spice Holdings, an entity registered in the British Virgin Islands, to the bank…

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