SaintJay Posted February 24, 2009 Share Posted February 24, 2009 (edited) http://news.bbc.co.uk/1/hi/world/europe/7907926.stm Fraud investigators and police are searching the headquarters of Anglo Irish Bank in Dublin. The Office of Director of Corporate Enforcement, a company watchdog, was leading the search after a judge issued a warrant on Monday, Irish police said. Garda and fraud investigation bureau staff are also present. They said they were searching for books and documents which could provide evidence relating to suspected offences under the Companies Act. The Irish government nationalised Anglo Irish Bank in January amid fears it would collapse. Its share price had plummeted amid a wave of controversies. In December the bank's chairman, Sean Fitzpatrick, resigned after admitting that he had transferred millions of euros out of the Dublin-based bank's accounts. Chief executive David Drumm announced his resignation shortly afterwards. Edited February 24, 2009 by SaintJay Quote Link to comment Share on other sites More sharing options...
brianjamesos Posted February 24, 2009 Share Posted February 24, 2009 http://news.bbc.co.uk/1/hi/world/europe/7907926.stm You might want to change your title before someone sues you. Its Anglo Irish. Quote Link to comment Share on other sites More sharing options...
Lone_Twin Posted February 24, 2009 Share Posted February 24, 2009 Bit frickken late isnt it? How many days have the shredders been running before plod turns up? . FFS. . ST Quote Link to comment Share on other sites More sharing options...
blankster Posted February 24, 2009 Share Posted February 24, 2009 If they find anything untoward, will the trail lead elsewhere, I wonder, and how far? Quote Link to comment Share on other sites More sharing options...
drrayjo Posted February 24, 2009 Share Posted February 24, 2009 I was told to expect this at the weekend Apparently, staff are being told NOTHING officially (at least in London), it's all leaks and rumours, and otherwise "business as usual" all the way. No significant redundancies, no change in business model, nothing. Yet. Quote Link to comment Share on other sites More sharing options...
Shmoo Posted February 24, 2009 Share Posted February 24, 2009 I heard that they've been lending money to people to buy their shares. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted February 24, 2009 Share Posted February 24, 2009 All banking is fraud, innit. They will find plenty of incriminating evidence, unfortunately they have a get of jail free card called a "banking licence". Quote Link to comment Share on other sites More sharing options...
SaintJay Posted February 24, 2009 Author Share Posted February 24, 2009 You might want to change your title before someone sues you. Its Anglo Irish. oops - fixed. only matter of time though (probably) Quote Link to comment Share on other sites More sharing options...
Mike H Posted February 24, 2009 Share Posted February 24, 2009 SaintJay - OT, I know, but I have to commend you on your choice of avatar. Brilliant. Quote Link to comment Share on other sites More sharing options...
happy_renting Posted February 24, 2009 Share Posted February 24, 2009 SaintJay - OT, I know, but I have to commend you on your choice of avatar. Brilliant. Do you like mine then too? Quote Link to comment Share on other sites More sharing options...
OLDFTB Posted February 24, 2009 Share Posted February 24, 2009 Bit frickken late isnt it? How many days have the shredders been running before plod turns up?. FFS. . ST But they are the Irish Police so they aren't proper plod though are they? Quote Link to comment Share on other sites More sharing options...
Guest An Bearin Bui Posted February 24, 2009 Share Posted February 24, 2009 I heard that they've been lending money to people to buy their shares. About flipping time they were raided by investigators - the loans for shares deal is only half of it. There's also the issue of lying about the state of their balance sheet, manipulating the share price, reclassification of loans and actually secretly shifting loans around to partner banks to hide liabilities from the balance sheet. Seriously, Jeff Skilling was put in jail for less with Enron!! Yet some of the crony capitalists in Ireland are determined to defend their friends. This Ulick McEvaddy is a nut - I never heard of him until now. Here's a quote: "Anglo is a great bank and I make no hesitation in saying I would have supported it in a heartbeat," he told the Irish Independent after his lecture. "If I had, I'd put my hand up in a heartbeat and say 'yes, I supported Anglo'. "They [the loans for shares guys] haven't done anything wrong. They should be proud of what they did because they were supporting the bank in its hour of need, and it probably supported them in their hour of need. Why would you hide it?" So he's basically saying in public that he would happily engage in share price manipulation and a loan for shares deal. Stunning. As to why it took the police so long to raid the place, there are some rumours circulating that senior politicians were also involved so I would bet that any incriminating evidence was conveniently removed before the law turned up... :angry: Quote Link to comment Share on other sites More sharing options...
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