Sean Fitzpatrick's membership of Chartered Accountants Ireland revoked

Sean Fitzpatrick's membership of Chartered Accountants Ireland has been revoked after a disciplinary tribunal found he was likely to bring discredit to the organisation and himself.

The Tribunal found the concealment of loans by the former chairperson of Anglo Irish Bank constituted misconduct of a serious nature.

Mr Fitzpatrick has also been ordered to pay a fine of €25,000.

Sean Fitzpatrick accepted the punishment and says he will not apply to be reinstated to the accountancy group in future.