Courts / Wicklow / Report

Auditor tells trial he would have considered alleged refinancing arrangement "of greater significance"

Summary

In a Dublin Circuit Criminal Court trial, Sean FitzPatrick, former chairman of Anglo Irish Bank, faces 27 offences for allegedly misleading auditors about multi‑million euro loans from 2002 to 2007. The case focuses on loan facility letters from Irish Nationwide Building Society (INBS) for 2002‑2004, some up to €18.3 m, and the bank's 2004 annual accounts showing director loans of just over €10 m. Auditing partner Kieran Kelly testified that the loans, if undisclosed during the audit, would have had limited impact unless they were specifically arranged for refinancing at year‑end, which he would deem more significant. FitzPatrick denies all charges. The trial continues before Judge John Aylmer, with defence counsel Bernard Condon requesting an adjournment. The proceedings remain at the evidence‑collection stage.

Who, what, where, when and why

What: Report matter: Auditor tells trial he would have considered alleged refinancing arrangement "of greater significance". Charges or matters: 27 offences under the 1990 Companies Act. Procedural stage: trial

When:

• 2002 to 2007 Other
• 2003 and 2004 Other
• 2017-02-14 Publication

Case subjects

Places mentioned

Topics

Stage Trial

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Read the original CNI report