Further Anglo files on their way to DPP

THE Office of the Director of Corporate Enforcement (ODCE) is to send further papers regarding its probe into Anglo Irish Bank business practices to the DPP “in a matter of weeks”.

Enforcement director Paul Appleby said that the office was focusing its attention on two aspects of its Anglo probe and would update the High Court by the end of the month.

“Importantly, we sent substantive investigation files, on two strands of our Anglo investigations, to the DPP last year.

“Two weeks ago, we provided the DPP with three supplementary files, which complement the material which is already in her possession.

“We are now focusing our attention on tworemaining strands of the investigation, and I intend that further papers will go to the DPP in a matter of weeks.

“We will be providing the High Court with a detailed progress report on these investigations in late January.”

His remarks coincided with the ODCE’s end of year statement for 2011, which was published yesterday.

That report covered what Mr Appleby called a challenging year for his office and staff, but one which included “notable progress in many areas”.

Last year saw the ODCE receive just under 2,000 new reports and complaints — nearly as high as the record year of 2010. The office also determined over 1,900 cases in 2011, its highest ever total.

In terms of enforcement work, the ODCE imposed 20 disqualifications and two restrictions for misconduct, or irresponsibility by directors in the management of company affairs.

It also helped to secure 20 convictions against five defendants for criminal breaches of the Companies Acts. This compared to one disqualification and eight convictions in 2010.

Expenditure was also down in 2011, with the office spending €3.35m, a 9% reduction on 2010 levels.

“Every effort continues to be made to limit ODCE spending and liabilities,” said Mr Appleby.