One report relates to a large loan paid to him by one of his companies two years ago, while another relates to his fundraising for Fianna Fáil, a party he has sought to disassociate himself from in recent weeks.
The loan of almost €83,000 was paid to Mr Gallagher by one of his companies – Beach House Training and Consulting Limited in 2009,breaching company law in the process as it exceeded the cap for such loans set at 10% of a company’s assets.
Mr Gallagher said this had been an honest mistake and said it related to a cheque that had been lodged to the wrong account.The Dragons Den star moved the money into the correct account after been informed by his accountants last year.
In an interview on RTÉ’s Morning Ireland, Mr Gallagher was also asked about his role in personally inviting donors to attend a Fianna Fáil corporate fundraiser for former Taoiseach Brian Cowen.
Mr Gallagher attended the fundraiser where guests were asked to donate up to €5,000 for the dinner in Dundalk, Co Louth in summer 2008.He said this was not a secret event and he had asked three or four business people to attend, but he had no idea whether they had made a donation to the party or not.
Cavan native Gallagher formally resigned from the Fianna Fáil National Executive in January this year.