Belfast Telegraph

Ex-Anglo chief released by garda

The former chairman of rogue lender Anglo-Irish Bank has been released without charge after his arrest by Gardai investigating suspected breaches of company law.

Bankrupt Sean Fitzpatrick, 63, was detained on Friday morning by appointment at a Garda station.

It was the second time the ex-banker, who was also Anglo's chief executive, was taken in for questioning by the fraud squad.

Mr Fitzpatrick, who was being held under section four of the Criminal Justice Act, was released from Bray Garda station shortly after 2pm.

A Garda spokesman said a file will now be prepared for the Director of Public Prosecutions.

Officers from the Garda Bureau of Fraud Investigation and company law experts from the Office of the Director of Corporate Enforcement are investigating financial irregularities at Anglo in the 18 months before its collapse.

Inquiries focus on directors' loans at a time when Mr Fitzpatrick was in charge at the bank and a seven billion euro deposit transfer between Anglo and Irish Life & Permanent which helped disguise the state of the bank's books.

Anglo was rebranded the Irish Bank Resolution Corporation this year.

Its collapse could cost taxpayers 34 billion euro.


From Belfast Telegraph