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Posts tagged ‘Paul Appleby’

Anglo execs still refusing to co-operate

By Emmet Oliver,
A group of former Anglo Irish Bank executives and other witnesses are still refusing to co-operate with the two-and-half year investigation into the bank, despite a fresh appeal by officers working for corporate watchdog head Paul Appleby.

The joint garda/Paul Appleby-led investigation team made a fresh appeal in May and June
— but people restated their refusal to co-operate through their lawyers, an affidavit reveals.

The investigation team wants to interview the group to shed light on a range of
events in 2008 when the bank was under severe market pressure, including the
warehousing of loans with other lenders and a deposit transaction between Anglo
and Irish Life & Permanent.

A senior garda attached to Mr Appleby’s office, Eamonn Keogh, has revealed that the fresh
appeal prompted a change of heart by some of the “reluctant
witnesses”. “A small number have since co-operated and made statements or have committed to making statements in the near future,” said his affidavit. “A definitive
response is outstanding from the remainder.”

Interviews

The investigation team had been trying to get interviews with some individuals for
more than a year, he added. Mr Appleby and his colleagues say they have no
powers to force people to give evidence. However, the High Court heard yesterday that new powers under the Criminal Justice Act could yet change this position. In certain circumstances, witnesses will have to co-operate under the terms of this bill which is making its way through the Oireachtas. The affidavit
was opened in court during an application by Mr Appleby for more time to
continue his probe. This request was granted by Mr Justice Peter Kelly, who
told the court special powers to seize material and activate warrants could
remain in place until early next year.

Mr Justice Kelly said the collapse of Anglo had “devastating consequences” and it was
not unreasonable for people to expect a thorough investigation into whether the
criminal law had been breached. The court also heard evidence from a legal representative of the Director of Public Prosecutions (DPP), who said it was not right to say “nothing” was
happening in the investigation.

The DPP was being kept fully appraised and had received a number of “modular”
reports. Barrister for the DPP, Una Ni Raifeartaigh, said it had been decided that all the various strands of the investigation should be finished rather than deciding on charges
on some segments. She said there was an overlap in witnesses between the
different strands and also other linkages.The investigation team is still hoping to finish up by the end of the year, the affidavit makes clear. However, this is subject to various provisos, the team made clear in evidence to Justice Kelly. Some of the
warehousing of loans — known as refinancing by the investigation team — was a
lot more extensive and complex than previously thought, said the affidavit.

This was a wholly unexpected development, it said, but the team was now getting a better
understanding of the transactions.

– Emmet Oliver,
Deputy Business Editor

source http://www.independent.ie/business/irish/anglo-execs-still-refusing-to-cooperate-with-probe-2833214.html

 

Comment:

This is outrageous
the government should enact emergency legislation immediately we are dealing
with a known corrupt bank  I cannot
understand why top managers and directors are allowed to get away with not supplying
the gardaí with the information they need .These people should be brought
before the courts and jailed why do we not have the names of these people
splashed across the newspapers Name and shame  these crooks. Anybody else would be in jail by
now. Who is protecting these people? What dirt have they on the politicians, who
are afraid to act against these gangsters? Allen Shatter what are you afraid of?

Something stinks at the Irish Central Bank !

The Central Bank says it has decided to put off an examination of certain issues arising from its investigation of Anglo Irish Bank.

In a short statement, the Central Bank said it had been told by the Gardaí that to go ahead with its examination now could prejudice any future criminal prosecutions.

The bank said it would keep its decision under review.

It said that it had notified with the Gardaí and the Office of the Director of Corporate Enforcement of certain suspected offences at an early stage in its probe, and continued to keep in regular contact with both agencies.

Yesterday, the Director of Corporate Enforcement defended the conduct of its investigation into matters at Anglo Irish Bank, saying that more than 10 witnesses in his office’s investigation could be classed as ‘reluctant’.

Paul Appleby said comparisons had been made between the speed of the investigation and the speed of similar investigations in the US. But he said that was not a good comparison, and it would be better to look at the UK, where similar investigations typically take four to six years.

Mr Appleby added, however, that he believed the Anglo investigation was currently well ahead of that benchmark, and he was satisfied that it was proceeding with all possible speed.

source: http://www.rte.ie/news/2011/0603/anglo-business.html

Comment:

Something stinks and I don’t trust the central bank to do the right thing.

Most of the top people in the central bank were in the same top positions when Anglo Irish Bank’s fraudulent support of its shares was underway. There is good reason to believe that some of these very people were behind this blatant robbery of the banks shareholders .They should be rooted out and brought before the courts post haste. I believe this is nothing short of an attempt to water down the charges and to stifle the investigation .The Central Bank are attempting to protect their own corrupt people.

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