Courts / Wicklow / Report

Loans linked to Sean FitzPatrick made up very small portion of loan book, witness tells trial

Summary

During the trial of former Anglo Irish Bank chairman Sean FitzPatrick, former auditor Kieran Kelly testified that the loans linked to FitzPatrick represented only a very small portion of the bank's loan book. Kelly, a partner at EY, estimated the figure at about 0.20 per cent of the total loan portfolio, which was roughly €19 billion in 2002. He stated that loans to directors were not considered a significant audit risk area and that the disclosure of such loans was viewed as low risk. FitzPatrick, aged 68, has pleaded not guilty to 27 offences under the 1990 Companies Act, including 22 charges of misleading auditors and five charges of furnishing false information between 2002 and 2007. The case is proceeding before Judge John Aylmer and a jury.

Who, what, where, when and why

What: Report matter: Loans linked to Sean FitzPatrick made up very small portion of loan book, witness tells trial. Charges or matters: 27 offences under the 1990 Companies Act. Procedural stage: trial

When:

• 2002 to 2007 Other
• 2017-02-20 Publication

Case subjects

Places mentioned

Topics

Stage Trial

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Read the original CNI report