Former Anglo director pleads guilty to part in €8m loan to Willie McAteer

Former Anglo director pleads guilty to part in €8m loan to Willie McAteer
Pat Whelan

A former director of Anglo Irish Bank has pleaded guilty to an offence of failing to maintain a register in respect of the granting on September 29, 2008, by the bank of a loan on particular terms to another director of the bank.

Pat Whelan (54) was a director of lending with the bank when the company failed to maintain a register in respect of the granting on September 29, 2008 by the bank on particular terms to Willie McAteer a loan of €8,426,307.

On Monday last the bank's former director of finance, McAteer (66) of Greenrath, Tipperary Town, Tipperary, admitted obtaining the €8m from Anglo on September 29, 2008 which he secured against his shares in the bank. According to the indictment he then used the money to pay off a personal loan he obtained from Bank of Ireland.

This morning at Dublin Circuit Criminal Court, Whelan from Coast Road, Malahide, Co Dublin pleaded guilty to failing to maintain a register in accordance with section 44(1) of the Companies Act, 1990.

Both men were due to go on trial in January 2017.

Judge Melanie Greally allowed Whelan to remain on bail with the consent of the prosecution and set a sentence date for January 12, 2017. She also urged caution in the reporting of the matter in the media.

The charge against McAteer states that “in breach of section 297 of the Companies Act, 1963, that you, on 29 September 2008, were knowingly a party to the carrying on of the business of a company, for a fraudulent purpose, the granting of Anglo Irish Bank Corp PLC of a loan to yourself in the amount of Eur8,426,307 secured only upon your shares in Anglo Irish Bank Corp PLC so that you could discharge a loan to Bank Of Ireland in that amount you were personally liable”.

This article has been amended and we have been asked to add the following clarification:

In a report published yesterday it was incorrectly stated that Pat Whelan, a former director with Anglo Irish Bank, had pleaded guilty to being a party to a fraudulent loan of €8 million.

Mr Whelan (54) in fact pleaded guilty to an offence of failing to maintain a register in respect of the granting on September 29, 2008 by the bank of a loan on particular terms to another director of the bank.

Mr Whelan was a director of lending at the bank when the bank's then director of finance, Willie McAteer, obtained a loan of €8,426,307.

McAteer (66) of Greenrath, Tipperary, pleaded guilty on Monday last to fraudulently obtaining a loan of €8million from Anglo on September 29, 2008, secured against his shares in the bank. The indictment states that he then used the money to pay off a personal loan from another bank.

On Wednesday Whelan of Coast Road, Malahide, Co Dublin pleaded guilty at Dublin Circuit Criminal Court to failing to maintain a register in accordance with section 44(1) of the Companies Act, 1990.

Judge Melanie Greally allowed Whelan to remain on bail with the consent of the prosecution and set a sentence date for January 12, 2017.


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