Courts / Dublin / Report
Anglo accountant denies "abdicating" responsibilities
Summary
In the 2016 trial of four former Anglo Irish Bank executives, Peter Fitzpatrick, aged 63, denied abandoning his duties during a 2008 scheme that allegedly misled investors with a €7.2 billion circular transaction. The case centred on a plan to inflate Anglo's balance sheet by moving funds between Anglo and Irish Life and Permanent (ILP). Fitzpatrick, along with John Bowe, Willie McAteer and Denis Casey, pleaded not guilty to conspiracy charges. During the trial, Fitzpatrick's lawyer, Brendan Grehan, questioned Kevin Kelly, Anglo's former head of financial reporting, about his role in accounting for the €7.2 billion. Kelly admitted that the transaction was recorded in a way that misrepresented its sequence, but argued that the risk was still present. The trial is ongoing before Judge Martin Nolan and a jury.
Who, what, where, when and why
What: Report matter: Anglo accountant denies "abdicating" responsibilities. Charges or matters: conspiring together and with others to mislead investors through financial transactions between March 1st and September 30th, 2008. Procedural stage: trial
When:
- March 1st Hearing Or Sentence
- September 30th, 2008 Hearing Or Sentence
- November 2008 Other
- December 2008 Other
- February 19, 2009 Other
- February 19 Hearing Or Sentence
- December 2 Hearing Or Sentence
- 2016-04-05 Publication
Why: " Mr Kelly agreed that this entry misrepresented the sequence of the transactions because Anglo had first placed €1bn with ILP before ILP deposited the same money back with Anglo in a precise sequence of allegedly circular transactions. CNI source report
Case subjects
Defendant
Charges: conspiring together and with others to mislead investors through financial transactions between March 1st and September 30th, 2008 (Alleged Or Contested)
Plea: Not guilty
Places mentioned
- Convent Lane
- Portmarnock
- Dublin
- Tipperary Town
- Tipperary
- Dublin
- Dublin Circuit Criminal Court
Topics
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