Monday 20 November 2017

Anglo's FitzPatrick and O'Mahoney 'got $1.2m loan from bank' in 1997

Bernard Daly
Bernard Daly
Aoife Maguire
Former Anglo Irish Bank official Tiarnan O'Mahoney at Dublin Circuit Criminal Court

Conor Gallagher

Anglo Irish Bank's former chief operations officer and former chairman received a $1.2m loan from the bank to complete a share deal in 1997, a trial has heard.

A former fraud officer with Anglo told Dublin Circuit Criminal Court that former chief operations officer Tiarnan O'Mahoney received the loan jointly with former chairman Sean FitzPatrick.

Mr O'Mahoney is one of three former bank officials on trial accused of attempting to hide bank accounts from the Revenue in an alleged tax evasion scheme.

On day 10 of the trial, the court also heard that details such as names and addresses were changed on several accounts allegedly connected to Mr FitzPatrick or Mr O'Mahoney on the bank's internal computer system. These changes happened after the accounts had been closed.

Mr O'Mahoney (54) of Glen Pines, Enniskerry, Co Wicklow, and his colleagues - former company secretary Bernard Daly (65) of Collins Avenue West, Whitehall, Dublin, and Aoife Maguire (60) of Rothe Abbey, South Circular Road, Kilmainham, Dublin - have pleaded not guilty to seven alleged offences committed in 2003 and 2004.

The three are accused of trying to delete references to two accounts in the name of John Peter O'Toole, Mr FitzPatrick's brother-in-law, from Anglo's Core Banking System (CBS).

Mr Daly and Mr O'Mahoney also deny omitting the name of Mr O'Toole from a list provided to the Revenue Commissioners of people who held non-resident accounts worth more than €100,000 in 1995.

Mr O'Mahoney and Ms Maguire further deny attempting to delete six other accounts, connected to Mr FitzPatrick, from the CBS.

Former Anglo fraud officer Patrick Peake yesterday told prosecuting counsel Dominic McGinn SC that he found records showing Mr O'Mahoney and Mr FitzPatrick jointly borrowed $1.2 million from the bank through the companies Lock Ltd/Susie Ltd and Carnahalla Ltd.

The money was a bridging loan before the companies received finance from the private bank Guinness and Mahon.

The loan was to fund the purchase of 75,000 shares at $16 each in a company called Spiros.

Mr Peake said this loan was for a period of up to two months before the private bank stepped in with the finance.

In a separate section of evidence, Mr Peake told the jury that several accounts held by Anglo had their details changed on the computer system long after they had been closed.

An account called Lock Ltd/Susie Ltd was closed in December 2001.

Two years later, the address on the account was changed from 'no address' to 'Douglas Street, Isle of Man'.

Irish Independent

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