Tipperary TD Michael Lowry found guilty of filing incorrect corporate tax returns and failing to keep proper accounts

Tipperary TD Michael Lowry found guilty of filing incorrect corporate tax returns and failing to keep proper accounts

Michael Lowry.

Tipperary TD Michael Lowry and his refrigeration company has been found guilty of two charges of delivering an incorrect corporation tax return and failing to keep proper set of accounts.

A jury at the Dublin Circuit Criminal Court delivered its verdict today following a twelve day trial.

The jury were unable to reach a decision on four remaining charges before them.

Judge Martin Nolan said he will sentence Mr Lowry later this afternoon and remanded him on continuing bail.

It was the State's case that Mr Lowry's company, Garuda Ltd, trading as Streamline Enterprises received Stg £248,624 (€372,000) in commission from Norpe OY, a refrigeration company based in Finland, in August 2002.

It was alleged that Mr Lowry arranged for this payment to be made to a third party, Kevin Phelan through the Glebe Trust based in the Isle of Man, and therefore it didn't appear in the company accounts for that year.

It is further alleged that the accounts were then falsified in 2007 to reflect that the payment was received in 2006.

Last week Judge Nolan told the jury that a charge of delivering an incorrect tax return for 2002 had been withdrawn.

Mr Lowry had pleaded not guilty to four charges of filing incorrect tax returns on dates between August 2002 and August 2007 in relation to a sum of Stg £248,624 received by his company, Garuda Ltd and one charge in relation to failing to keep a proper set of accounts on dates between 28 August, 2002 and August 3, 2007.

He further pleaded not guilty on behalf of Garuda Ltd to three similar charges in relation to the company's tax affairs and one charge of failing to keep a proper set of accounts on the same dates.