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Dublin: 6 °C Thursday 23 May, 2013

Former Anglo executives charged over alleged financial irregularities

Willie McAteer has been charged in connection with alleged financial irregularities at the now defunct Anglo Irish Bank. It is reported that Pat Whelan, former head of Irish operations, is also facing charges.

Willie McAteer after being questioned by gardaí in 2010.
Willie McAteer after being questioned by gardaí in 2010.
Image: Laura Hutton/Photocall Ireland

Updated, 18:20

THE FORMER FINANCE Director at the now defunct Anglo Irish Bank, and its former head of Irish operations, have been charged in connection with alleged financial irregularities today.

Willie McAteer, 52, appeared before the Courts of Criminal Justice in Dublin this afternoon and was charged with with 16 different offences under sections 60 and 383 of the Companies Act.

McAteer, the bank’s former finance director, is accused of allowing the bank to give loans to Patricia Quinn and her five adult children as well as ten clients who became known as the ‘Maple 10′ for the purpose of allowing them to buy shares in the bank.

The 52-year-old, with an address in Rathgar, was arrested this morning on the N7 motorway at Rathcoole, the court heard. He was granted bail on his own bond of €1,000 and an independent surety of €10,000 that was put up by his wife. He was also ordered to surrender his passport.

McAteer’s case will return to the court on 8 October.

Whelan, with an address in Malahide, faces 15 charges under the same legislation, and is charged with allowing Anglo to give unlawful financial assistance to Patricia Quinn and four other members of the Quinn family, and the same ten others, to buy shares in the bank.

The two are the first people to be charged following  a nearly four year investigation by the Garda Bureau of Fraud Investigation and the Office of the Director of Corporate Enforcement.

The arrests are the latest development in the investigation being carried out into various aspects of the workings of Anglo, now known as Irish Bank Resolution Corporation, which is now owned by the State.

In a statement, justice minister Alan Shatter said: “Today’s arrests result from the investigations undertaken by An Garda Síochána and the Office for Corporate Enforcement.

“It is a matter now for our independent prosecution service under the direction of the Director of Public Prosecutions and our courts.

“It is important that due process now takes place and that nothing is said which could in any way prejudice the outcome of the criminal prosecutions that have been initiated.”

Additional reporting by Gavan Reilly

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Comments (24 Comments)

  • Evidence, especially in Financial matter, takes time to gather and assess. Under resourced units of gardai and the office of corporate enforcement did good work here.

  • Slap on the wrist, back on the golf course by Tuesday

  • If guilty he should get 20+, this will drag on for years and barristers will get rich.

  • Hope this will not effect his bonus

    Alan Weinrib.

  • Bravo Bravo
    Congrats to our hero detectives who have finally nabbed the culprit who ruined our Economy
    Now the masses in ailsbury road shall sleep well tonight and that scoundrel of a banker will eat porridge

    • Brian 23/07/12 #

      Who do you think loaned them the money to buy their houses. Sean Fitz and his cronies are hero’s to these people. They made a lot of them very rich.

  • Scarr 23/07/12 #

    Anglo big fish arrested? Are we paying bondholders again soon? There’s usually a high-profile arrest to take notice off that.

  • I’m not a lawyer, but those hoping for a long sentence may be disappointed..

    (15) If a company acts in contravention of this section every officer of the company who is in default shall be liable:

    (a) on conviction on indictment, to imprisonment for a term not exceeding 2 years or to a fine not exceeding £500 or to both, or

    (b) on summary conviction, to imprisonment for a term not exceeding 6 months or to a fine not exceeding £100 or to both.

  • another smoke screen arrest he will be smiling as he is bailed and back out on the golf course in a few days, its a disgusting thing the way our gardai are being made to look like sheep being told to arrest gimps like this just as the heat is being turned up on the powers that be when quinn was about to go telling a few stories on the lads in anglo. All it would take is simple legislation from alan shithead to have these bankers arrested and imprisoned without charge until they all sing like good birds and hand over all the info on the mess they drove this country too, was done in america and now 15 bankers are enjoying various sentences for white collar crimes. But oh no not in ireland we reward economic terrorism and white collar crime, we bailout thieves of bankers and pay off bondholder gamblers all to look good in front of the euro mafia, led by angela “soprano” merkel. There will never be true justice in ireland but wait til the winter hits and people are being locked up for not paying water,septic tank,household taxes and tv licences and importing garlic there much bigger criminals!

  • As long as it deters him and others from ever doing it again, I’ll be happy…

  • Don’t be fooled by those who accuse you of seeking revenge. (that is with The Lord).
    There must be accountability. What about the internal and external auditors at Anglo and other corrupt, inept institutions. Put them all in the dock under oath.
    If you want revenge send them on holidays with Bertie and Brian and Padraig etc.

    Regards,

    FDT

  • This bloody government. As soon as an issue arises, boom something else takes over in the media. Disgraceful. Stop trying to run away from the big issues of the day ffg/lab!!!!! Would never happen under Sinn Fein I tell ya. ;)

    In a more sensible rare-seen on TheJournal approach; fair play to the Gardai for getting a few into the courts at long last over the whole Anglo debacle. I hope that they are able to convict them and its far from just a slap on the wrists. Despite popular unfounded opinion – it is clear that the big players are very much being targeted and wont be let slip away that easy.

    • There should be some kind of prize for the most ingenius way of getting a rant about SF into a thread that has nothing to do with them.
      Back on topic I’d love to see Fingleton arrested just so big Phil could have a squeaky bum moment or two. Won’t hold my breath on that one though.