More than 8,500 pages of documents on Anglo Irish Bank have been handed over to the Director of Public Prosecutions by the country’s corporate watchdog.
Director of Corporate Enforcement Paul Appleby said two substantially completed investigation files and three reports on the lender were in the hands of the DPP.
The probe centres on secret loans to former bank directors and former chairman Sean FitzPatrick; the movement of more than €7 billion between Anglo and Irish Life & Permanent (IL&P) to boost Anglo’s books; and a €451 million loans-for-shares scheme involving a golden circle of 10 mystery investors.
Mr Appleby said the second file was sent to the DPP last week.
“This file relates to Anglo’s provision of loans to various parties to enable them to purchase Anglo shares in 2008,” he said.
“About 8,000 pages are contained within the 17 volumes of the investigation file.”
Earlier the accountancy regulator confirmed it had postponed next month’s disciplinary proceedings in to Mr FitzPatrick at the request of the DPP amid fears that it could prejudice any criminal proceedings.
The Chartered Accountants Regulatory Board said it was also considering whether to proceed with the establishment of disciplinary tribunals against Anglo’s former chief executive David Drumm, its former finance chief Willie McAteer, and the former finance director of Irish Life and Permanent Peter Fitzpatrick.
Separately, gardaí and the Financial Regulator are also investigating alleged financial irregularities at the lender.
Mr FitzPatrick, who stepped down as chairman of the nationalised Anglo Irish Bank in December 2008, was questioned by members of the Garda fraud squad last year.
Mr Appleby told a business society meeting at National University of Ireland, Galway, the extensive investigation file by his office was about 90 per cent complete.
He said his priority was to complete work on the Anglo loans connected to its former directors which were not adequately disclosed in the bank’s financial statements by the end of the year.
PA