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Anglo Irish Bank’s ex-CEO arrested for fraud
Posted By aaron On July 25, 2012 @ 2:01 pm In Economic Crisis | Comments Disabled
July 25, 2012
DUBLIN – Fraud detectives arrested the former chief executive of Anglo Irish Bank and charged him Tuesday over a conspiracy to hide colossal losses at the bank that brought the nation to the brink of bankruptcy.
FitzPatrick was arraigned [...] on 16 counts related to Anglo’s doomed 2008 effort to prop up its collapsing share price. Forensic accountants found that Anglo provided secret loans to 16 insiders on condition they used the €1.1 billion ($1.35 billion) to buy Anglo stock.
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