THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

Police search Anglo Irish Bank offices

Bloomberg News / February 25, 2009
  • Email|
  • Print|
  • Single Page|
  • |
Text size +

DUBLIN - Irish police yesterday searched the offices of Anglo Irish Bank Corp., the lender nationalized by the government last month, as part of an investigation by the country's corporate enforcement agency.

Police obtained a search warrant for a Dublin-based bank and are seeking accounts in connection with a possible breach of company law, said a department spokesman who didn't name the bank. Spokesmen for Anglo Irish and the enforcement office declined to comment.

Transport Minister Noel Dempsey Monday described some of the activities involving Anglo Irish as "economic treason." The bank began to unravel last year after the resignation of chairman Sean Fitzpatrick, who transformed Anglo Irish into one of Europe's most profitable lenders. Fitzpatrick stepped down in December, saying he hid loans from the company.

His resignation was followed by two other controversies. Last week, Anglo Irish said it will take an impairment charge of $382.7 million on loans to 10 people that were used to buy shares in the bank through a transaction that may have helped prop up its shares.

  • Email
  • Email
  • Print
  • Print
  • Single page
  • Single page
  • Reprints
  • Reprints
  • Share
  • Share
  • Comment
  • Comment
 
  • Share on DiggShare on Digg
  • Tag with Del.icio.us Save this article
  • powered by Del.icio.us
Your Name Your e-mail address (for return address purposes) E-mail address of recipients (separate multiple addresses with commas) Name and both e-mail fields are required.
Message (optional)
Disclaimer: Boston.com does not share this information or keep it permanently, as it is for the sole purpose of sending this one time e-mail.