Sunday 25 February 2018

Anglo trial: Six charges against Sean FitzPatrick dismissed

Former Anglo Chairman Sean Fitzpatrick
Former Anglo Chairman Sean Fitzpatrick
Sarah Stack

Sarah Stack

FORMER Anglo Irish Bank chairman Sean FitzPatrick has been acquitted of six charges which alleged he gave illegal loans to six members of Sean Quinn's family, a court heard.

A judge has directed not guilty verdicts on six counts relating to prosecution claims that Mr FitzPatrick knew that €169m was lent to Mr Quinn’s wife and five children to unwind the businessman’s secret stake in the bank.

Mr FitzPatrick (65), from Greystones, Co Wicklow, still faces a further 10 counts of providing unlawful financial assistance to net worth Anglo clients – known as the so-called Maple 10 - in July 2008 to buy shares in Anglo.

He denies each charge.

Judge Martin Nolan also directed Pat Whelan, the bank’s former head of lending in Ireland, has been found not guilty of seven seperate counts.

The ex-banker had denied the charges which alleged he was privy to the fraudulent alteration of loan facility letters to seven individuals.

“I have to inform you that while you were away I made a decision that I am I’m going to direct not guilty verdicts,” Judge Nolan told the jury in relation to the charges against Mr Whelan.

“Also, in relation to Mr FitzPatrick I have directed not guilty verdicts in relation to the six counts."

These involved the Quinn family, the judge added.

The men looked relieved as they left the court room.

The prosecution last week finished giving evidence against the three at Dublin Circuit Criminal Court.

Mr Whelan (51), of Malahide, Co Dublin and Willian McAteer (63), of Rathgar in Dublin; deny 16 counts each of providing unlawful financial assistance to 16 people to buy shares in Anglo Irish Bank. They include the Maple 10 and six members of the Quinn family.

The loan-for-shares deal involved unwinding Mr Quinn’s secret 29pc stake in the bank, build up through contracts for difference (cfds).

The trial, which is in its tenth week, continues this afternoon.

Online Editors

Promoted Links

Today's news headlines, directly to your inbox every morning.

Promoted Links

Editor's Choice

Also in Irish News