Wednesday 17 January 2018

Tycoon Sean Quinn set to give evidence today

Businessman Sean Quinn
Businessman Sean Quinn

Donal O’Donovan

SEAN Quinn has begun giving evidence in the trial of three former Anglo Irish Bank directors at the Dublin Circuit Criminal Court.

The jury has previously heard how the one-time tycoon’s indirect stake in the bank got as high as 29pc in March 2008.

The trial is entering its second week today.

On Friday the jury was told Mr Quinn's Quinn Group borrowed almost €2bn from Anglo Irish Bank to fund his bet on the bank's shares, made through so called contracts for difference (cfd).

Sean FitzPatrick, 65, from Greystones in Co Wicklow, 51-year-old Patrick Whelan of Malahide in Dublin and 63-year-old William McAteer of Rathgar in Dublin have pleaded not guilty to 16 charges of unlawfully providing financial assistance to individuals for the purpose of buying shares in Anglo Irish Bank in 2008.

Mr Whelan has also denied seven charges of being privy to the fraudulent alteration of a loan facility letter.

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