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Anglo Irish Bank Chiefs Face Community Service Over Illegal Loan Scheme

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http://www.theguardian.com/business/2014/jul/31/anglo-irish-bank-chiefs-community-service-illegal-loan-scheme

Two bosses from the bank that almost bankrupted Ireland have been given 240 hours of community service for an illegal multimillion-euro loan scheme to rich investors.

Former Anglo Irish Bank chiefs Pat Whelan and William McAteer were told in Dublin's circuit criminal court on Thursday that they had one year to complete the sentence. The orders imposed by Judge Martin Nolan were in lieu of a two-year prison sentence.

The pair were found guilty this year in the same court of illegally lending to the so-called Maple 10 – a group of investors Anglo Irish Bank sought out as alternative investors to Seán Quinn, Ireland's one-time richest man who had bought millions of shares in the bank.

There was widespread outrage in the Irish Republic after Whelan and McAteer escaped a custodial sentence following a 47-day criminal trial. While they were found guilty of the Maple 10 illegal loan scheme, their co-accused and ex-Anglo Irish Bank chairman Seán FitzPatrick was found not guilty of all charges against him. Whelan and McAteer were also found not guilty of making unlawful loans to six members of Quinn's family.

Quinn's dealings with the Anglo Irish Bank and his use of loans to speculate on the international property market resulted in the former billionaire being declared bankrupt after the financial and property crash of 2008-2009.

Great news more bankers escape jail.

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6 weeks of community service for multi-million pound fraud and obtaining money by deception.....

they really should be very thankful that shariahas not made much progress here in the UK

...but they shouldn't push their luck.

even across the pond the mood against improper practice is hardening...they would be looking at 10-15 years being somebody's soap-bitch over there( and they are just getting started)

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6 weeks of community service for multi-million pound fraud and obtaining money by deception.....

they really should be very thankful that sharia has not made much progress here in the UK

...but they shouldn't push their luck.

even across the pond the mood against improper practice is hardening...they would be looking at 10-15 years being somebody's soap-bitch over there( and they are just getting started)

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