THE Department of Finance raised no concerns when told about the controversial transfer of billions of euro from Irish Life & Permanent to Anglo Irish Bank in a bid to dress up the books of both banks, claims a secret
internal report compiled by Anglo and seen by the Sunday Tribune.
In a set of astonishing
new revelations and claims, drawn from legal memos, transcripts of phone calls and audit material, Anglo claim that a senior finance civil servant, who works closely with minister Brian Lenihan, assured IL&P he understood why it was necessary to carry out the transactions and there was no need for concern over the arrangements.
The Sunday Tribune has seen a copy of the audit report and transcripts of the phone calls between Anglo Irish and the Financial Regulator concerning the arrangements. The explosive contents
are likely to heap pressure
on the government to immediately reform and restructure the Financial Regulator and to give a detailed account of whether Department of Finance officials provided approval, even in retrospect, for the transfers.