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Criminal Assets Bureau must be sent in to investigate Fitzpatrick

17 February, 2009

In response to the latest revelations about Séan Fitzpatrick and the transfer of loans from Irish Nationwide, Sinn Féin Finance Spokesperson Arthur Morgan has said that Fitzpatrick must be pursued by the Criminal Assets Bureau.

It has been reported today that Irish Nationwide lent Fitzpatrick $26 million in September 2006 and a further $56 million and £14 million in September 2007.

Deputy Morgan said, "The constant flow of scandals relating to Anglo Irish Bank demonstrates that the Bank was rotten to the core. The Government will have to act immediately by appointing a High Court inspector to both Anglo Irish and Irish Nationwide.

"The latest revelations to emerge about the loans to Seán Fitzpatrick are shocking in the extreme and all members of the Board of Directors at Irish Nationwide need to consider their positions. Furthermore, the Criminal Assets Bureau must be brought in to investigate these loans and Seán Fitzpatrick.

"The constant flow of scandalous revelations emanating from Anglo Irish Bank show that it is a poisoned institution that never should have been nationalised. The Government's motives for the nationalisation of this institution need to be seriously scrutinised particularly given that they had access to the Price Waterhouse Coopers report on the bank prior to the nationalisation." ENDS

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