Wednesday 21 March 2018

Tribunals for bankers put on hold after DPP intervenes

Shane Phelan Investigative Correspondent

PUBLIC hearings on the activities of three more bankers have been postponed following the intervention of the Director of Public Prosecutions.

An accountancy watchdog tribunal investigating former Anglo Irish Bank chairman Sean FitzPatrick (62) was deferred earlier this week after the DPP expressed fears it could prejudice possible criminal proceedings.

Last night, the Chartered Accountants Regulatory Board (CARB) postponed tribunals into the activities of three more bankers.

The decision means it will be October at the earliest before tribunals can be considered again for former Anglo chief executive David Drumm (44), the bank's former finance director Willie McAteer (60), and Irish Life & Permanent's former finance director Peter Fitzpatrick (58).

Along with Mr FitzPatrick, all three were identified as having prima facie cases to answer following an investigation by former Comptroller and Auditor General John Purcell.

Hearings into allegations against Mr FitzPatrick were due to begin next month, while hearings for the other bankers had been due to take place afterwards.

The DPP's intervention is the firmest indication yet that charges are planned in the investigation into matters leading up to the near collapse of Anglo.

In a statement last night, CARB said: "The DPP expressed his concern that the holding of public hearings. . . might prejudice future criminal proceedings in the event that a prosecution is directed against any party. CARB will continue to liaise with the DPP on this matter."

Irish Independent

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