Ex-Anglo Irish Bank chief charged

Published Tuesday, 24 July 2012
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The former chairman of Anglo Irish Bank has been charged over a failed insider trading scam.

Sean Fitzpatrick was brought before the Criminal Courts in Dublin on Tuesday for alleged financial irregularities.

The 64-year-old was arrested earlier in the day at Dublin Airport, as he arrived from the USA after arranging to meet officers.

Mr Fitzpatrick was charged with 16 offences, and in court he replied to the counts with "no comment".

The charges follow an investigation into financial irregularities at the toxic bank.

On Monday, Mr Fitzpatrick's ex-colleagues, former senior executives Willie McAteer and Pat Wheelan were charged with a string of fraud offences over a failed insider trading scam.

The wife and children of Ireland's former richest man, Sean Quinn were among those involved in the plot to save the toxic bank in July 2008.

They were among those allegedly advised to invest in Anglo to falsely inflate its share prices.

Six months after the Quinn investment, the bank was nationalised at a price of around £23.4 billion - almost half the value of the country's bank bailout.

Mr Fitzpatrick and his former colleagues are expected to appear in court again in October.

© UTV News
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