Police to charge 14 after inquiry into Anglo Irish Banks

[The Straight Story]

Police to charge 14 after inquiry into Anglo Irish Banks

Police in Ireland are seeking to charge 14 people over alleged wrongdoing at Anglo Irish Banks, the failed institution that brought the republic's financial system to its knees, it was announced today.

Justice minister Dermot Ahern said two files on the investigation would be sent to the director of public prosecutions within 24 hours, while other inquiries would continue into the new year.

The first file relates to whether deposits were used to mask large withdrawals. Irish Life & Permanent said last year it had deposited between €6bn and €7bn with Anglo in September 2008 to provide "exceptional support" at a time when the world's financial sector was hit badly by the collapse of the Lehman Brothers investment bank.

"There are four main suspects in relation to back-to-back loans between Anglo Irish Banks and Irish Life and Permanent that relate to a total of €7.2bn," Ahern told Reuters, adding that the 42-volume file on the case, running to hundreds of pages, would now be sent to the DPP.

http://www.guardian.co.uk/business/2010/dec/16/anglo-irish-banks-charges-police