Sean FitzPatrick investigator admits ‘colossal prejudice’

The lead investigator into allegations of financial crimes by former Anglo Irish Bank chairman Sean FitzPatrick has accepted that aspects of his investigation were “colossally prejudiced”.

Counsel for Mr FitzPatrick, aged 68, described as “an outrage” a decision by Kevin O’Connell, an investigator with the Office of the Director of Corporate Enforcement (ODCE), not to ask witnesses certain questions because they might “undermine” his case.

Mr FitzPatrick is accused of failing to disclose multi-million euro loans to auditors. The prosecution alleges that the amount of the loans was “artificially reduced” for a period of two weeks around the bank’s financial end-of-year statement by short-term loans from other sources, including Irish Nationwide Building Society.