AIB culprits may never be named

THOSE guilty of the cover-up in the AIB foreign exchange banking scandal may never be named despite two lengthy investigations by financial regulator IFSRA.

Up to 10 AIB officials are under investigation, three of them alleged to be high up in the chain of command.

This could change if the regulator decides to call in the gardaí to investigate some of the allegations on overcharging and other matters that predate the 1995 Consumer Credit Act. No decision has been taken, but IFRSA chief executive Liam O’Reilly said the option was open to the regulator.