Belfast Telegraph

Suspects identified in Anglo probe

Four prime suspects have been identified over white collar crime and secret transactions at debt-riddled Anglo Irish Bank.

Justice Minister Dermot Ahern said two major blocs of files would be sent to the Director of Public Prosecutions (DPP) by Friday.

One focuses on the short-term transfer of 7.2 billion euro between Anglo and Irish Life & Permanent and names four major players involved in a so-called bed and breakfast to cover up the lender's crippled balance sheet in 2008.

The second file centres on the "Maple 10" circle of investors who bought Anglo shares using money from the bank.

The minister refused to confirm if all 14 were considered suspects in the controversial deals, but he said detectives are confident charges will be brought over their investigations.

Mr Ahern said that if the law had been broken, people must be held to account.

"Government can't be seen to intervene but at the same time it is a matter of huge concern to Government and indeed to the people that if any wrong doing did take place it has to be punished and people have to be brought to book," he said.

Mr Ahern said four major suspects were identified in the file dealing with back-to-back transactions between Anglo and Irish Life.

It is understood the Garda Fraud Squad, the Office of the Director of Corporate Enforcement (ODCE) and the Financial Regulator are investigating whether Anglo used more than seven billion euro of short-term deposits from Irish Life to mask big customer deposit withdrawals and whether laws were broken.

More than 40 gardai backed up by staff from the ODCE have been working on the near two-year investigation. They have been sifting through 115,000 emails and taken 400 statements, including 72 classed as major some of which run to 150 pages.


From Belfast Telegraph