Anglo in more trouble as shares boosted by 300 million

[W..R.H]

ANGLO Irish Bank loaned a total of €300m to 10 wealthy individuals last July in a controversial arrangement designed to support the bank’s share price

In what is feared in Government circles to be a potential new banking scandal, which may have political implications, the 10 millionaire business people, including several household names, each borrowed €30m from Anglo Irish to buy shares in the bank.

Full article here:Anglo shares boosted by €300m loan to 10 tycoons - National News, Frontpage - Independent.ie

And of course we are now exposed to the 300m after the nationalisation. Oh goody.

[myk]

Full article here:Anglo shares boosted by €300m loan to 10 tycoons - National News, Frontpage - Independent.ie

And of course we are now exposed to the 300m after the nationalisation. Oh goody.

The Sunday Business Post broke this story weeks ago, the Sindo are just rehashing their better quality rival's old front pages.

[W..R.H]

Oh, sorry, didn't know that. Can you link me to orginal artical?

[cyberianpan]

Indeed this is an old story - but a very serious story

A lot more serious than the "deposits" scandal

And seasoned observers may think €300m was small relative to July's total market cap: but liquidity in summer months is low - and believe me for the whole summer Ireland, Banks & Anglo especially were in the doldrums - €300m of deals would have a massive effect.

Indeed in Decembers after the loans re-categorisation scandal sellers couldn't find bulk buyers for Anglo.

cYp

[myk]

Oh, sorry, didn't know that. Can you link me to orginal artical?

Group loses €300 million on Anglo Irish investment: ThePost.ie

25 January 2009

btw it would appear that the Business Post has broken all of the recent major Anglo Irish scandals, including the deposits issue which was broken in last Sunday's edition.

[Easy Tiger]

If the Indo knows they're household names, then they know who they are. Print them!

[myk]

If the Indo knows they're household names, then they know who they are. Print them!

well the Sindo haven't printed them for probably the same reason that the Business Post didn't put this as a front page story at first. these are probably very litigious people!