Saturday 10 December 2016

Gardai will send Anglo file to DPP by end of year

Tom Brady Security Editor

Published 21/09/2010 | 05:00

GARDAi are to send their massive file on alleged financial irregularities at Anglo Irish Bank to the Director of Public Prosecutions by the end of the year.

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A timeframe for the long-running investigation emerged last night as detectives from the garda fraud bureau and staff from the Office of the Director of Corporate Enforcement prepared to enter the final phase.

Officers remain in negotiations with the legal representatives of former Anglo chief executive David Drumm, who is now the only key banker left to be interviewed.

There has been regular contact between the two sides over the past few months and gardai are hoping that Mr Drumm will make himself available voluntarily for interview here when he returns to Dublin from his new home in the US for civil proceedings in the courts.

Detectives are currently carrying out interviews with three former senior figures in Irish Life and Permanent (IL&P) and that leaves Mr Drumm as the sole outstanding player to talk to the investigators about the controversial transactions.

The investigation has been under way since February last year and a detailed preliminary briefing on progress achieved so far in the inquiries has been given by senior gardai to the Director of Public Prosecutions.

Fraud bureau detectives are focusing on the movement of €7.45bn in deposits between Anglo and IL&P to bolster Anglo's books and the loan of €450m to the so-called Maple 10, a "golden circle" of 10 investors, to buy bank shares.

Sworn

The investigators had been anxious to get an account from the three IL&P executives to establish what they knew about the deposits that falsely altered the bank's financial status in the lead-up to the collapse.

Denis Casey, who resigned last year from the chief executive post, earlier this year handed in a sworn statement about the controversy at the Garda's Dublin metropolitan headquarters at Harcourt Square. But he did not speak to investigators at the time.

In the statement, he reportedly claimed that the Department of Finance, the Financial Regulator and the Central Bank were aware of the transactions with IL&P before Anglo published its financial results.

Since then, gardai have been in contact with Mr Casey and are now taking a statement from him.

Gardai have also begun taking statements from IL&P's former finance director Peter Fitzpatrick and its former head of treasury David Gantly. Both men resigned from their posts.

Detectives will then cross check the information received from IL&P with the details gleaned from a trawl through Anglo records and their questioning of former Anglo chairman Sean FitzPatrick and former finance director and chief risk officer Willie McAteer.

Gardai have taken around 350 statements and are sifting through 100,000 emails and transcripts of telephone calls as they attempt to unravel the complex transactions.

Irish Independent

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