Workers Party Call For Garda Fraud Squad To Be Called In To Anglo-irish Bank

national | miscellaneous | press release Friday January 16, 2009 17:08 by Malachy Steenson - Workers Party

Anglo Irish - call in the Fraud Squad

The Workers’ Party have demanded that the Minister for Finance Brian Lenihan call in the Garda Fraud Squad to investigate the internal dealings of Anglo Irish Bank.The revelations of further loans to Directors totalling more than €179 million, which forced a reluctant minister to bring Anglo Irish Bank into state control, adds urgency to this demand

The Workers’ Party have demanded that the Minister for Finance Brian Lenihan call in the Garda Fraud Squad to investigate the internal dealings of Anglo Irish Bank.The revelations of further loans to Directors totalling more than €179 million, which forced a reluctant minister to bring Anglo Irish Bank into state control, adds urgency to this demand

Workers’ Party Dublin Central representative Malachy Steenson said it was clear that there was a culture of rottenness and sleaze at the centre of Anglo Irish Bank and it needed to be surgically rooted out.

Mr. Steenson said that the Fraud Squad should not only investigate the financial affairs of the directors and former directors in question but should also probe into dealings between the bank and public bodies to which a number of directors had been appointed by government. In particular the relationship between Anglo Irish and the Dublin Docklands Development Authority needs to be examined.

Mr Steenson went on to say “The Dublin Docklands Development Authority is responsible for the redevelopment of the docklands area. The recent settlement of a High Court case involving the awarding of a preferential planning permission to a developer by the DDDA - a development which was to include a new headquarters for Anglo Irish Bank and the project was also to be financed by Anglo Irish - reveals “a very cosy relationship between Anglo Irish Bank and the DDDA". The Directors flow from one to the other earning huge salaries as they go”.

"Furthermore, the relationship between Anglo bosses and politicians from Fianna Fail and other major political parties must be investigated thoroughly”.

“We have just gone through ten years of revealing but unsatisfactory tribunals which have exposed a mire of corruption at the heart of Irish business and politics. Despite the widespread public revulsion at this and the breast-beating of senior politicians we seem to be back at the same place once again. It is essential that this culture be not only exposed but that those involved in wrongdoing are identified and punished. Another tribunal is not the answer. This time the gardaí need to be brought in so that anyone involved in criminal practices is punished”, said Mr. Steenson.