Crucial witnesses refuse to aid Anglo probe
Director of Corporate Enforcement Paul Appleby revealed that the number of people classified as “reluctant witnesses” in the case were in double figures, although he declined to be more specific about the exact number.
It is understood the majority of individuals who have withheld co-operation from the inquiry relate to former Anglo staff who are based both in and outside Ireland.
Speaking at the launch of his office’s annual report yesterday, Mr Appleby said the time which the probe was taking was simply a reflection of its scope and complexity. He pointed out that similar inquiries by the British Serious Fraud Office took up to six years on average to complete.
Last month, High Court judge Mr Justice Peter Kelly expressed concern about the pace of the investigation after he was asked to extend its deadline for a sixth time.
However, Mr Appleby indicated he would seek a further extension when he returns to update the High Court on the inquiry’s progress on July 28, but stressed that the investigation was still proceeding “diligently and expeditiously”.
“While I fully appreciate that there is some frustration with the length of time it is taking to complete these investigations, it is clear that substantial and tangible progress has been made,” said Mr Appleby, who added that he still expects the inquiry to be finished by the end of the year.
He revealed that more than 200 Garda witness statements had been taken to date with full or near-complete files containing several thousand documents already having been sent to the DPP.
They relate to the main branches of the inquiry: the €7.4 billion of short-term back-to-back deposits received by Anglo from Irish Life & Permanent in September 2008; the regular transfer of Anglo directors’ loans to Irish Nationwide close to the bank’s end-of-year reporting date; the provision of loans to 10 investors to purchase Anglo shares in July 2008; and the provision of a loan to former Anglo finance director Willie McAteer in 2008.
Mr Appleby estimated that the inquiry, which began in February 2009 in conjunction with the Garda Bureau of Fraud Investigation, had cost €1 million to date.
He welcomed the proposed Criminal Justice Bill, which will make it obligatory for potential witnesses not under suspicion themselves to assist the authorities in certain criminal investigations. It is uncertain if the bill, due to be passed before the summer, will assist the Anglo inquiry. However, Mr Appleby said it would undoubtedly help with future investigations of white-collar crime.
