Sean FitzPatrick arrested for questioning in Anglo inquiry
Published 09/12/2011 | 09:17
FORMER Anglo Irish Bank chief executive Sean FitzPatrick was arrested this morning at eight o’clock by gardai at his Bray home and taken in for questioning.
Officers from the Garda Bureau of Fraud Investigation have taken the former bank director to Wicklow Garda station where he is being questioned in the ongoing inquiry into alleged financial irregularities at the institution.
He is being held under section 4 of the Criminal Justice Act 1984 and can be questioned for up to 24 hours.
As this is the second time Mr Fitzpatrick has been detained, Gardai had to go to the district court to get a warrant for his arrest.
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 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 Irish taxpayers 34 billion euro.
He is the second senior Anglo official to be arrested in recent weeks.
Former finance director of Anglo Willie McAteer was questioned by detectives in early November.