HJ: All eyes are on these arrests… are they the forerunners of the widely reported ‘mass arrests’ or simply collateral damage in the ongoing financial scandals? That remains to be seen, but nonetheless, they are sign that the times of unchecked financial corruption are coming to a close. – Truth
BBC News – July 24, 2012
The former head of Anglo Irish Bank, Sean FitzPatrick, has been arrested by Irish police in connection with alleged financial irregularities at the bank.
Mr FitzPatrick has been appearing in court in Dublin.
He is the third former senior executive from Anglo Irish Bank to appear in court within the past 24 hours.
All three men face 16 charges in relation to an alleged failed attempt to prop up Anglo’s share price after a stock market collapse.
Anglo was nationalised at a cost of about 30bn euros (£23.4bn) to Irish taxpayers.
Mr FitzPatrick served as chief executive and then chairman of the bank, building it up to become what at one time appeared to be one of the biggest success stories of Ireland’s boom years.
However, Anglo was badly exposed by the bursting of the Irish property bubble and suffered the largest corporate loss in the history of the Republic of Ireland.
Mr FitzPatrick stepped down from his position in December 2008, a month before Anglo had to be bailed out by the state.
Read the rest of the article here: BBC News