Anglo offices raided, Sean Fitzpatrick arrested over financial irregularities

[Abacus]

Well put.

Fitzpatrick is being investigated for fraud, not lending money to greedy idiots.

If that were a criminal offence, we'd have to build some new prisons.

One of the most enduring quotes emanating from the rarefied sanctum of the Law Library from time imemmorial has long been :
" My client is an innocent man corrupted by circumstance ".
Folks, have no doubt whatever, this one is gonna run and run.

[constitutionus]

Section 4 of Criminal justice act has a maximum prison term of 5 years, right?

minimum i think.

which would tie in to multiple breaches of money laundering leglisation. if someone transfered money dogyly they'd be breaking rules that could add up to 10yrs consectuatively . failour to report a transaction to a reporting officer is 5yrs in itself. at seanies scale im not sure what goes on but at my level thats what i could be done with.

a link to the act is on page one of this thread (if you have your display setting at maximum 20 post a page. )

[Cato]

Schadenfreude anyone?

[Half Nelson]

Why exactly?

It's bad enough that we currently have the newspapers laying the groundwork for prosecutions in high-profile murder cases. We don't need any more trial by media.

[Iarmhi Gael]

Funny that this happened in a week when the Dail is not sitting and all the senior government politicians are on junkets..

And a week away from when NAMA starts to give out Taxpayers money...

[powderfinger]

Go on then. Give us a few sample questions.

One for Gormley.
Would it be helpful to the Gardaí in this investigation to have access to the number of delayed reports commissioned into the affairs of the DDDA?

[EvotingMachine0197]

What complete rubbish , all the parties were peddling the same stuff, Anglo did not pump the irish economy on its own, All banks including the foreign banks played their part and the irish people borrowed the money , FF did not force me to sign for my bank loans.
Seanie has been set up as the "bad boy " of irish banking as if he was the only one, this suits the media , the govt etc but it is not a correct version of events, but it is very convenient. If Seanie is guilty of reskless lending then alot of people in ireland are in trouble.
How is its FF's fault for Anglo and other banks actions?
My own guess is that there was more going on with Anglo than just simply conventional banking and that maybe is why the fraud squad is involved.
It will prove very difficult to find him guilty under company law, especially after the DCC case, although it is possible maybe under another law?

[FONT=Arial][SIZE=3]That’s fair enough, I don’t think FF or anyone else can be directly held responsible for any banks actions. Banks manage themselves and make their own decisions.[/SIZE][/FONT]

[FONT=Arial][SIZE=3]However , the conduct of our banks was allowed to go unchecked for years. This was where the economic and financial services regulation by the Central Bank and the Financial Regulator has been shown in hindsight to be utterly failed.[/SIZE][/FONT]

[FONT=Arial][SIZE=3]Given that a booming economy is of massive electoral benefit to an incumbent Government, the question is, was the CB and FinReg encouraged or even leaned on to take a light-hearted approach by the FF Governments from say 2002 ?[/SIZE][/FONT]

[FONT=Arial][SIZE=3]Was the complacency in Regulation intentional ?[/SIZE][/FONT]

[FONT=Arial][SIZE=3]As this question can probably never be proved one way or the other, it will be up to the electorate to decide for themselves.[/SIZE][/FONT]
[FONT=Arial][SIZE=3]
[/SIZE][/FONT]

[borntorum]

Section 4 of Criminal justice act has a maximum prison term of 5 years, right?

S.4 of the CJA 1984 is merely the provision under which he is being detained.

It appears that he is being questioned relating to possible offences under the Theft and Fraud Offences Act 2001

[seabhcan]

Do we have the trial of the century to look forward to?

[Toland]

Schadenfreude anyone?

Due to other scandals in my home and adopted country, I've renamed my house (formerly '108D') Villa Schadenfreude.