Six members of family facing unwanted spotlight
This year, it emerged Mr Quinn’s wife and children were liable for up to €2bn in loans they were given to invest in the bank.
Yesterday, the court heard that the DPP believes that Anglo gave money to Mr Quinn’s son Seán Jr, his wife Patricia and their daughters, Colette-Marie, Ciara, Aoife, and Brenda.
The DPP said the bank’s actions were an unlawful attempt to protect its own share price.
It began after Sep 2007, when discussions between the bank and the Quinns began about the exposure Sean Quinn Sr had built up. Money was loaned back to family members to support their investment and repay debts to Quinn companies.
Patricia Quinn has already described herself in court as a housewife who took part in her husband’s business but had little knowledge of what was going on. She will be the focus of bankruptcy proceedings by the bank.
Seán Quinn Jr is in jail after being found to be in contempt of court on Friday after he, his father, and his cousin Peter Darragh Quinn were asked to reverse the alleged asset-stripping of the Quinn empire.
