Friday 26 May 2017

Emmet Oliver: Details of Anglo's fall from grace to be put before probe

Emmet Oliver

WHILE the language is sparse and undramatic, a set of serious allegations have been laid against the former leadership of Anglo Irish Bank by a special investigator representing the Chartered Account- ants in Ireland.

The special investigator appointed by the organisation, John Purcell, believes David Drumm, Sean FitzPatrick, Willie McAteer and Peter Fitzpatrick all have prima facie cases to answer across a range of areas. The phrase prima facie is vital -- it means on the face of it.

In other words nobody from Anglo has been found guilty of anything, but some ex-directors now face having to delve into very sensitive areas and in public too. It is also possible that accounts given in future by Mr Drumm and Mr FitzPatrick for instance won't be in agreement. Only time will tell.

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