The Chairman of CRH, Mr Pat Molloy, has welcomed the conclusion of the Inspectors into Ansbacher (Cayman) Limited that the Company did not knowingly assist in the carrying out of Ansbacher’s activities in Ireland.
But the Inspectors also stated that CRH "must bear some responsiblity for the fact that the activities of Ansbacher continued for the period 1989 to 1994."
In a statement released today Mr Molloy said the details of the Inspectors’ Report, as they relate to CRH are disturbing. He added that the Company was "deeply disappointed at the grave abuse of trust" which took place during that period when former non-executive chairman Des Tryanor "wrongfully used his office" and "improperly used personnel under his direct control in the unlawful activities of Ansbacher."
Mr Molloy said CRH had since taken all reasonable steps to ensure that an abuse of this nature could not occur again and condemned "unreservedly" the activities of Mr Traynor.
He added that while the Company could appreciate a point of view that the existence of this activity should have been detected, "the reality is that the information contained in the Report was not available to the Company at the time and these activities were not detected."