Reuters: Bankruptcy News: Ex-Anglo Irish head facing second trial over bank meltdown

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Ex-Anglo Irish head facing second trial over bank meltdown Mar 1st 2013, 16:14 Fri Mar 1, 2013 11:14am EST * Ex-Anglo CEO issued with more charges, faces second trial * Charged for misleading Anglo's auditors * Due to appear in court in March, no trial date set By Sarah O'Connor DUBLIN, March 1 (Reuters) - The former head of the defunct Anglo Irish Bank will face a second trial connected to Ireland's most expensive banking failure, charged with misleading auditors, a Dublin court heard on Friday. Sean FitzPatrick, who oversaw the rapid rise and stunning fall of Anglo, is already due to be tried on fraud charges next year. He is the highest-profile banker to be charged in connection with the financial meltdown that dragged Ireland into an 85 billion euro ($111 billion) international bailout. FitzPatrick will face 12 counts of keeping auditors in the dark over loans worth 139 million euros that he received from Anglo during his time in charge. He resigned in late 2008 after admitting he repeatedly misled shareholders for years over the issue. FitzPatrick, 64, wearing his trademark navy suit and pink tie, did not respond when each of the charges was read out and nodded at the judge when his bail conditions were issued. He was released on bail of 10,000 euros and told to appear in court for another hearing on March 22, when his trial date could be set. FitzPatrick's other trial, scheduled for January next year, concerns 16 charges relating to the bank's collapse - along with two other former top executives - for allegedly giving unlawful loans to a group of 10 high profile investors. Anglo planned to take legal action against auditors Ernst & Young, but the liquidation in January of the re-named Bank Resolution Corp (IBRC) may delay any proceedings. FitzPatrick faces up to five years in prison if found guilty of any of the charges from either trial and must continue to report weekly to police. In a long-running investigation spanning since 2009, police and the Director of Corporate Enforcement (ODCE) are still checking other aspects of the Anglo case. It's unclear if other elements of the investigation involve FitzPatrick. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions