‘Quinn paid very high price’ for Anglo investment

The trial of three former Anglo Irish Bank directors has heard that the Financial Regulator fully supported the bank’s allegedly illegal plan to protect their share price.

‘Quinn paid very high price’ for Anglo investment
Sat, 08 Feb, 2014 - 00:00
Conor Gallagher

Former Quinn Group CEO Liam McCaffrey told the jury Seán Quinn was forced to agree to Anglo’s plan for him to sell his control over 29.3% of the bank’s shares.

The witness agreed with defence counsel for Pat Whelan, Brendan Grehan, that Mr Quinn lost €2.4bn by betting on Anglo’s share price through Contracts for Difference (CFDs).

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CourtsangloLiam McCaffreySean QuinnSean FitzPatrickPlace: GreystonesPlace: Rathgar, DublinPlace: Malahide, DublinPerson: QuinnPerson: CEOPerson: Liam McCaffreyPerson: Sean QuinnPerson: Pat WhelanPerson: Brendan GrehanPerson: David DrummPerson: Sean FitzpatrickPerson: William McAteerPerson: AngloPerson: WhelanPerson: FitzpatrickPerson: McAteerPerson: McCaffreyPerson: GrehanEvent: St Patrick’s Day massacreEvent: EasterOrganisation: Anglo Irish BankOrganisation: Quinn GroupOrganisation: ContractsOrganisation: Dublin Circuit Criminal CourtOrganisation: AngloOrganisation: Maple TenOrganisation: DPPOrganisation: Quinn Insurance LtdOrganisation: CFDsOrganisation: Financial RegulatorOrganisation: CfD
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