FORMER ANGLO Irish Bank financial director Willie McAteer has been released without charge after being held by gardaí for more than 30 hours as part of the criminal investigation into the now State-owned bank.
Mr McAteer made no comment to the waiting media as he left Irishtown Garda station in Dublin’s south inner city shortly after 2.15pm yesterday.
He had been held there for questioning since his arrest at 6.30am on Wednesday during an unannounced search of his home in Rathgar, south Dublin.
The 59-year-old walked down the steps of the station at the corner of Londonbridge Road and Irishtown Road where he was met by more than a dozen photographers and reporters who had been waiting since early morning.
He refused to answer questions from journalists and remained silent as he got into a waiting light blue Ford Focus car. The car was driven by a middle-aged woman and pulled up outside the station just moments before his exit.
His release without charge, like that of former Anglo chairman Sean FitzPatrick last week, was anticipated. Further arrests are expected.
Unlike Mr FitzPatrick, who was released from Bray Garda station last Friday, Mr McAteer was not escorted by gardaí through the gathered media.
Gardaí will now continue their investigation into alleged financial irregularities at the bank with a view to sending files on the case to the DPP.
However, The Irish Times understands lengthy investigations will have to be carried out before the Garda Bureau of Fraud Investigation is in a position to ask the DPP to consider criminal charges relating to practices at Anglo.
Like Mr FitzPatrick last week, Mr McAteer was detained under Section 4 of the Criminal Justice Act but was arrested under Section 10 of the Criminal Justice (Theft and Fraud Offences) Act.
Mr McAteer was questioned about the lodgement of €7.45 billion in short-term deposits by Irish Life Permanent into Anglo over its financial year-end in September 2008.
The Garda’s investigation is focused on whether the short-term deposit was reflected fully and accurately on Anglo’s year-end books.
Mr McAteer was also questioned about the loans to a so-called golden circle of 10 Anglo customers to buy a 10 per cent stake in the bank that was being sold by businessman Sean Quinn.
Mr McAteer resigned from Anglo just over 12 months ago after it emerged that Mr FitzPatrick had concealed his Anglo loans over eight years in an arrangement with Irish Nationwide Building Society.
At the end of 2008 Mr McAteer had more shares in Anglo, at 3.5 million, than any other director apart from Mr FitzPatrick.