Derek Quinlan, the financier who owes Nama €200m, is in London living the "high life," according to the Sunday Independent.
The man, once hailed as "King Midas" by Ireland's wealthiest professionals for his ability to multiply their money, is currently living in a period mansion in London with a weekly rent of £3,463 (€4,144) and has recently purchased a new Range Rover worth £90,000 (€108,000).
Quinlan's lavish lifestyle has continued unabated despite vows from Nama chairman Frank Daly to bring an end to the excesses indulged in by the developers and speculators whose activities helped bring about Ireland's economic crisis.
The financier splashed out over £10,000 (€12,000) on accommodation and food at the Berkeley Hotel over Christmas.
While Quinlan has paid down the estimated €600m he owed Nama personally to just over €200m, eyebrows will be raised in Ireland if it emerges that the agency doesn't inquire into how his life in London is being funded.