Another former director in Garda grilling after raid

GARDAÍ investigating alleged financial irregularities at Anglo Irish Bank were still questioning a second former senior bank official last night.

Former finance director and chief risk officer William McAteer was arrested at his Rathgar home in south Dublin at 6.30am.

Following a search of the bungalow, the 59-year-old bank official was taken to Irishtown Garda Station.

It is understood gardaí seized documents, files and computers at the home.

They were given more time to question the former Anglo executive overnight and if Mr McAteer opts for a rest period, he could be held until 2.30pm today.

Mr McAteer was arrested under Section 4 of the Criminal Justice Act, under which he can be held for up to 24 hours without charge.

A source confirmed the former bank official was last night being questioned under Section 10 of the Theft and Fraud Offences Act.

Detectives from the Garda Bureau of Fraud Investigation – who are leading the investigation into alleged financial irregularities at Anglo carried out the arrest.

Mr McAteer’s detention is the second high-profile arrest of former senior figures at the troubled bank and follows the questioning by Gardaí of the bank’s former chairman Sean FitzPatrick last week.

The former chief risk officer was granted access to a lawyer during his custody yesterday and was being questioned about his knowledge of the bank’s financial activities.

Mr McAteer was at the centre of how the bank borrowed or recorded its funds during the period Gardaí are investigating.

Detectives from the unit are investigating the transfer of over €7.5bn to Anglo from Irish Life & Permanent in September 2008. Former Anglo chairman Sean FitzPatrick was quizzed about this last week.

Bank officials are also being investigated about the lending of money to a ‘golden circle’ of customers who bought the bank’s own shares in July 2008.

Anglo Irish Bank chairman-designate Alan Dukes yesterday told RTÉ radio he wanted the Garda inquiry into the bank to be completed as soon as possible.

“This is part of a series of investigations into how things went wrong at the bank. As far as we’re concerned in the bank, the sooner these investigations are concluded the better.”

Mr McAteer stepped down from Anglo in January last year just weeks after it emerged that Mr FitzPatrick had concealed loans with Anglo over eight years in an arrangement with Irish Nationwide Building Society.

When the finance director resigned, the then chairman Donal O’Connor thanked him for his “significant contribution to the bank and acknowledged his “commitment and loyal service” over 17 years.