Former Anglo Irish Boss Arrested and Charged

The former head of Anglo Irish Bank appeared in court today in connection with alleged financial irregularities at the now-defunct bank.

Sean FitzPatrick was arrested at Dublin airport just after 5.30am today as he was re-entering Ireland on a flight from the USA.

He appeared before Dublin District Court this morning and faced 16 charges of providing unlawful financial assistance, under Section 60 of the Companies Act.

Mr FitzPatrick is accused of permitting Anglo Irish Bank to give financial assistance to Patricia Quinn, her five children and ten senior clients who became known as the Maple 10. Patricia Quinn is the wife of now-bankrupt businessman Sean Quinn. The bank allegedly made loans to the investors to buy shares and prop up public confidence in Anglo Irish.

Mr FitzPatrick did not speak during his brief hearing this morning but his solicitor Michael Staines told the court that when the former bank chairman and chief executive became aware the gardai were looking for him, he contacted his solicitors and arranged to meet them this morning.

Mr Fitzpatrick was remanded on bail to appear before the court again on the same day as two other former senior Anglo Irish Bank executives, Willie McAteer and Patrick Whelan, who were charged yesterday.

The Director of Public Prosecutions has ordered that Mr FitzPatrick be tried on indictment, meaning he will be sent to the Circuit Criminal Court.

(NE)