Third file in Anglo probe sent to DPP

A THIRD investigation file on the Director of Corporate Enforcement Paul Appleby’s investigation into the €30 billion collapse of Anglo Irish Bank has been submitted to the Director of Public Prosecutions (DPP).

Speaking at the autumn briefing of the Irish Company Secretaries Group, Mr Appleby disclosed the file was submitted last month.

The investigation, assisted by the Garda Bureau of Fraud Investigation, began more than two-and-a-half years ago after millions of files were seized from the bank in February 2009.

Mr Appleby has indicated that his office is confident, barring unforeseen difficulties, that all files related to the investigation will be lodged with the DPP by the end of the year.

However, it is expected that the DPP’s office will take some time to go through the masses of information provided by the Director of Corporate Enforcement, and that any prosecutions could be a further two years away.

Mr Appleby said: “You may recall that in reporting to the High Court last July on progress with the Anglo Irish Bank investigation, it was indicated on my behalf that a further investigation file would be submitted to the DPP shortly.

“This investigation file was stated to relate to the suspected failure of Anglo to maintain a register of loan and related transactions which the bank had with its directors and with persons connected with its directors. Section 44 of the Companies Act 1990 is the relevant statutory provision.

“I can now confirm that this file, which relates to pre-2009 periods, was sent to the DPP last month. The decision of the DPP on this suspected offence will follow in due course.”

Meanwhile, the chairman of Anglo Irish Bank, Alan Dukes, has signalled there will be “developments” in relation to disgraced Irish Nationwide boss Michael Fingleton’s bonus payments.

Mr Dukes told the Irish Examiner that he could not elaborate on what was going to happen, but that he expected some information on the matter in the coming days.

The former Irish Nationwide Building Society (INBS) chief executive received a €1 million bonus and a watch worth €11,500 on his retirement after the introduction of the bank guarantee in 2008.

In 2009, Mr Fingleton said he would pay back the €1m bonus. INBS did hold back €400,000 to pay tax, but Mr Fingleton received €600,000. His overall retirement pension pot was €27.6m.

Mr Dukes said: “Watch this space. There will be one or two things coming out of that in the next couple of days I think.”

Well-placed sources said, however, that they did not know what Mr Dukes was referring to, short of Mr Fingleton voluntarily handing back his bonuses, or part of them.