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February 24, 2009    

Anglo Irish Bank hit by further controversy as fraud squad called in

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by Kay Murchie
”Anglo

Fraud squad officers and police are searching the headquarters of Anglo Irish Bank in Ireland.

The bank, based in Dublin, has been hit by several problems of late after the bank had to be nationalised last month to prevent it from collapse.

According to Irish Police, a warrant was issued yesterday and heading the search is the Office of Director of Corporate Enforcement, a company watchdog.

Garda and fraud investigation bureau staff are also involved in the search.

It is believed that investigators are searching for any documentation which could provide evidence relating to any crimes committed by the bank under Section 20 of the Companies Act.

The bank was shamed just before Christmas after former chairman Sean Fitzpatrick resigned in a controversy over inappropriate loans to directors totalling €87 million. CEO David Drumm resigned just 24 hours after Mr Fitzpatrick.

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Tags: , David Drumm, Fraud Squad, , Sean Fitzpatrick, Section 20 of the Companies Act

 


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