Friday, December 9, 2011

Zeitgeist: "Former Chairman of Anglo Irish Bank Arrested"

Well, maybe a bit more than zeitgeist. Maybe criminal fraud.
From DealBook:
Sean FitzPatrick, the former chairman and chief executive of the bankrupt Anglo Irish Bank, was arrested Friday in connection with an investigation into alleged fraud at the firm, according to a person familiar with the situation.

This is the second time Anglo Irish’s former chairman has been arrested. In 2010, Mr. FitzPatrick, 63, was questioned by police about the same fraud investigation related to the misuse of customer deposits.

Mr. FitzPatrick resigned after admitting that he had concealed loans from shareholder totaling $112 million that he had received from the bank. Mr. FitzPatrick declared bankruptcy last year in the wake of the nationalization of Anglo Irish....MORE