Belfast Telegraph

Ex-tycoon Sean Quinn claims Anglo used 'stolen money' to sue his family

By Adrian Rutherford

Sean Quinn has accused the former Anglo Irish Bank of using "stolen" money to make the Quinns the most hated family in Ireland.

The ex-billionaire criticised Anglo for seizing Quinn assets and using the proceeds to drag his family through the courts.

Mr Quinn, who is being pursued for loans of €2.8bn by Anglo, spent nine weeks in jail for contempt of court over a scheme that put the family's €500m international property empire beyond the former bank's reach.

"These guys have been using our money to beat us up and put us in prison and make us the most hated family in the country," he said.

Mr Quinn's scathing criticism came during an interview with Newstalk presenter Pat Kenny.

It is the latest stage in a long-running and increasingly acrimonious battle between the Quinn family and Anglo, later rebranded as the Irish Bank Resolution Corporation (IBRC).

Mr Quinn amassed a near-£4bn fortune through the family's quarrying and insurance businesses, but disastrously bet on the shares of the State-owned Anglo shortly before it collapsed under the weight of failed property loans and was nationalised in 2009.

In April 2011 control of Mr Quinn's empire passed into the hands of IBRC. The following year a judge in Dublin found that Mr Quinn, his son Sean Quinn jnr, and a nephew, Peter Darragh Quinn, hid millions in assets from the bank in defiance of a court order. Mr Quinn and his son were later jailed for contempt of court.

Meanwhile, IBRC is pursuing the Quinn family through the courts for money which it claims it is still owed. Mr Quinn said his family had worked for 40 years to generate those assets.

"They go and take these off us, illegally in my view, and use our money to fight us," he said.

Mr Quinn added: "They are saying we hid their assets or took their assets, the simple facts are that they were always our assets.

"They never belonged to Anglo Irish Bank, Anglo Irish Bank had no claim on these assets.

"Anglo Irish Bank are taking the rent so as far as I'm concerned Anglo Irish Bank are handling stolen goods, so they are using stolen goods to finance the case against us."

Belfast Telegraph


From Belfast Telegraph