6 Charges Dropped Against Former Anglo Chairman Sean Fitzpatrick

6 CHARGES DROPPED AGAINST FORMER ANGLO CHAIRMAN SEAN FITZPATRICK

Six charges have been dropped against former Anglo Irish Bank Chairman Sean FitzPatrick at his trial by direction of the judge – Wexford native Martin Nolan.

He still faces ten counts of providing unlawful assistance to the so called Maple Ten for the purpose of buying Anglo shares in July 2008, which he denies.

Judge Martin Nolan from Glenbrien has directed that Sean FitzPatrick be acquitted on 6 charges of providing unlawful financial assistance to members of businessman Sean Quinn’s family.

The former Anglo Irish Bank Chairman remains on trial with two of the bank’s former executives Willie McAteer and Pat Whelan.

He is still accused of allowing illegal loans to be issued to ten high net Anglo customers in July 2008 for the purpose of buying shares in the bank.

The jury’s heard the purpose of the transaction was to dilute the 29% shareholding Sean Quinn had secretly built up in Anglo over concerns it was destabilising the bank.

The judge has also directed not guilty verdicts against Pat Whelan, who headed up the lending division in Anglo, on 7 charges of being privy to the fraudulent alteration of loan facility letters.

The rulings came after 3 days of legal argument.

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