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Anglo convictions a “good start but long overdue” - Pearse Doherty TD

1 June, 2016 - by Pearse Doherty TD

Sinn Féin Finance Spokesperson Pearse Doherty TD has welcomed the guilty findings by the jury in the trial of former Anglo directors John Bowe and Willie Mc Ateer. However, he said that the two convictions on a single charge, after so many years since the banking crash, showed the weakness of the state’s stance on white collar crime.

Deputy Doherty said:

“These convictions are a good start but they are also long overdue. The damage caused by the fraud of which these men have been found guilty, and their roles with Anglo, is still being felt by every Irish worker in their pay cheque and every Irish patient in a hospital in this country. It is infuriating that we have had to wait nearly decade since the banking crash for these convictions to be handed down.

“We know that the culture in Irish banking was corrupt and reckless at the time. Billions of the people’s money was squandered and wasted yet the vast majority of those incidents aren’t illegal even to this day- reckless lending being a case in point.

“It is time to create a genuine system that does not tolerate reckless lending and takes white collar crime seriously. It should not be treated as a victimless crime. It is incredible that in so many cases white collar crime is still treated as not even being a crime at all.”

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