In April 1999, William Stobie was arrested and charged with the murder of solicitor Patrick Finucane. In June that year, journalist Ed Moloney published Stobie's version of the circumstances of Finucane's death. The charges were later commuted to aiding and abetting the murder. Stobie's trial eventually collapsed because of the failure of Neil Mulholland, by then the Northern Ireland Office Press Officer, to take the witness stand.
On December 12, 2001, Stobie himself was shot dead outside his home at Forthriver Road, Glencairn, Belfast. The Red Hand Defenders (RHD) claimed responsibility but it is widely believed that William Stobie was murdered because he was a liability that could cause embarrassment to the FRU / MI5 by further revelations by him to the Stevens Enquiry.