Europe

Sean FitzPatrick, former Anglo Irish Bank boss, in court

  • 24 July 2012
  • From the section Europe
Sean FitzPatrick
Image caption Former Anglo Irish Bank chairman Sean FitzPatrick was arrested at Dublin airport

The former head of Anglo Irish Bank, Sean FitzPatrick, has appeared in court in Dublin over alleged financial irregularities at the bank.

The 64-year-old is the third former senior executive from Anglo Irish Bank to appear in court within 24 hours.

All three men face 16 charges in relation to an alleged failed attempt to prop up Anglo's share price after a stock market collapse.

The court heard Mr FitzPatrick replied "no comment" when charged.

He was released on bail to appear in court again in October.

It is the third time Mr FitzPatrick has been arrested as part of the three-and-a-half year long investigation into the collapse of Anglo Irish Bank, but this was the first time he has appeared in court.

Mr FitzPatrick was arrested at Dublin airport at about 05:35 BST on Tuesday as he arrived from the US after arranging to meet officers.

The bank, now known as the Irish Bank Resolution Corporation Limited (IBRC), was nationalised in 2009 at a cost of about 30bn euros (£23.4bn) to Irish taxpayers.

Property bubble

Mr FitzPatrick served as chief executive and then chairman of the bank, building it up to become what at one time appeared to be one of the biggest success stories of Ireland's boom years.

However, Anglo was badly exposed by the bursting of the Irish property bubble and suffered the largest corporate loss in the history of the Republic of Ireland.

Mr FitzPatrick stepped down from his position in December 2008, a month before Anglo had to be bailed out by the state.

In court on Tuesday, Mr FitzPatrick, of Whitshed Road, Greystones, County Wicklow, was granted bail on a 1,000 euros bond and an independent surety of 10,000 euros, provided by his sister.

He must also sign in at a police station every Wednesday and give 48 hours' notice if he changes address or plans to leave the country.

On Monday, Willie McAteer - the second in command at the bank before his resignation in January 2009 - appeared in court alongside Pat Whelan, a former head of lending and operations at the bank.

Mr McAteer, 60, from Rathgar in Dublin, was granted bail until 8 October but was was ordered to hand in his passport.

Mr Whelan, 50, from Malahide in County Dublin, was also granted bail but was ordered to give 48 hours notice if he is travelling anywhere outside Ireland or the UK.

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