Third bank executive is arrested
Tuesday, 24 July 2012 08:49
Sean FitzPatrickFormer Anglo Irish Bank chairman Sean FitzPatrick has been arrested at Dublin airport

The former head of Anglo Irish Bank, Sean FitzPatrick, has been arrested by Irish police in connection with alleged financial irregularities at the bank.

Mr FitzPatrick is expected to appear in court in Dublin later on Tuesday.

He will be the third former senior executive from Anglo Irish Bank to appear in court as a result of the investigation within the past 24 hours.

Anglo was nationalised at a cost of about 30bn euros (£23.4bn) to Irish taxpayers.

Airport arrest

Mr FitzPatrick served as chief executive and then chairman of the bank, before stepping down in December 2008, a month before it had to be bailed out by the state.

Irish police arrested him at about 05:35 BST on Tuesday at Dubin airport and took him to Bridewell Garda station in the city centre.

It is the third time Mr FitzPatrick has been arrested as part of the three-and-a-half year long investigation into the collapse of Anglo Irish Bank.

On Monday, Willie McAteer - the second in command at the bank before his resignation in January 2009 - appeared in court alongside Pat Whelan, a former head of lending and operations at the bank.

They are facing 16 charges in relation to an alleged failed attempt to prop up Anglo's share price after a stock market collapse.

Mr McAteer, 60, from Rathgar in Dublin, was granted bail until 8 October but was was ordered to hand in his passport.

Mr Whelan, 50, from Malahide in County Dublin, was also granted bail but was ordered to give 48 hours notice if he is travelling anywhere outside Ireland or the UK.

The former bank is being wound down and is currently being run by the Irish Banking Resolution Company (IBRC).

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