Ex-Anglo Irish CEO Arrested Over $183M Loan

Law360, New York (December 21, 2012, 2:36 PM EST) -- The former head of Anglo Irish Bank was reportedly arrested by Irish police Friday for failing to disclose about €139 million ($183 million) worth of loans to the bank’s auditors.

Prosecutors allege Sean FitzPatrick failed to disclose to the bank’s auditor Ernst & Young the accurate value of loans he and others received from the Irish Nationwide Building Society, according to the Irish newspaper the Irish Independent.

The embattled bank executive was charged with knowingly or recklessly making misleading, false or deceptive statements to auditors on...
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