Anglo: Drumm knew FitzPatrick was hiding €100m borrowings for 2 years

THE failed Anglo Irish Bank has claimed its former chief executive David Drumm knew for at least two years that the then chairman Sean FitzPatrick, has been hiding up to €100 million of borrowings from shareholders in an Irish Nationwide account.

Mr FitzPatrick used the defunct building society to bury the loans over several years in the run up to the Anglo audit by transferring them temporarily to the building society.

Mr Fitzpatrick’s actions are now the subject of Garda investigations.