Friday 9 December 2016

Taoiseach's Druids Glen foursome

Published 13/01/2011 | 05:00

Brian Cowen's close friend and confidante since college is a former Anglo Irish Bank board member. He organised the Druids Glen golfing think-tank on July 28, 2008.

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Mr Drury stood down as non-executive director of Anglo around the time as Mr Cowen became Taoiseach in May 2008, but not before he arranged a dinner for his fellow directors with the incoming Taoiseach on April 24, 2008. The former journalist and multi-millionaire sports events organiser has acted as an unpaid adviser to Mr Cowen.

MR Gray was appointed a director of the Central Bank and Financial Services Authority, as well as a member of the Irish Financial Services Regulatory Authority, by then Finance Minister Brian Cowen in January 2007.

He is a managing partner at Dublin-based Indecon International Economic Consultants and a managing partner of Indecon Ireland.

In a newspaper article last month, he wrote: "Domestic confidence is still extremely low and there is a danger of believing there is no future for Ireland."

MR McGann, the chief executive of the Smurfit Kappa Group, is a former non-executive director of Anglo Irish Bank who stepped down with other board members after the bank was nationalised in January 2009. One month later, he stepped down as chairman of the Dublin Airport Authority.

While Mr McGann sat on the Anglo board, Sean FitzPatrick sat on the Smurfit board and the pair were friends. Shortly after his appointment to the Anglo board, it was reported he owned 25,000 bank shares, which were worth hundreds of thousands of euro.

The now disgraced former chief executive and chairman of Anglo stepped down in December 2008 after admitting hiding from the bank's shareholders €87m of personal borrowings he had taken from Anglo.

Anglo was nationalised in January 2009 and he has been arrested and interviewed by gardai investigating alleged financial irregularities at the bank.

Mr FitzPatrick was declared bankrupt last summer. He owed Anglo €110m and last September he told the High Court he had an income of €188 per month.

Irish Independent

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