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Thread: Anglo investigation "well into next year before it's finished"

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    Politics.ie Member MsAnneThrope's Avatar
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    Default Anglo investigation "well into next year before it's finished"

    Anglo probe team warns sift of bank 'cannot be rushed'

    SENIOR gardaí and the Office of the Director of Corporate Enforcement have insisted that investigations into financial irregularities at Anglo Irish Bank "cannot be rushed" and could take a further 12 months before they are completed.
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    An investigation by the Garda National Bureau of Fraud Investigation into Anglo's affairs was launched six months ago when officers raided the bank's head office in Dublin.

    A senior garda source said, "The investigation is extremely complex... For us to do it professionally will take considerable time and effort. It will be well into next year before it's finished. We would be doing a terrible injustice to the people of Ireland if this was not thorough."
    That last sentence has made me very suspicious. Very twee. I believe it's an attempt to placate us. Why is it taking so long? Is it connected in any way to waiting for NAMA to be set up do you think? When you compare it to the speed Madoff was investigated, charged and sentenced in the U.S. it really makes you wonder.

    Meanwhile Seanie is living it up as though nothing has happened, and Drumm has bought not one but two luxury houses in Cape Cod in the U.S. for $7.2 million, having put his Malahide house on the market for €2.79 million. I don't think he has any intention of coming back here. That won't stop him (and ex-finance director Willie 'Fair play to ya' McAteer) pursuing their 2006 bonuses that are now overdue though, and compensation. In a statement last January, Finance Minister Brian Lenihan acknowledged that Anglo directors who lost their positions would "retain their right to pursue compensation for loss of office"

    Is this whole investigation nothing more than a pointless exercise to pretend that something is being done, and nothing will come out of it?
    Last edited by MsAnneThrope; 27th July 2009 at 01:46 PM.
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    Politics.ie Member jpc's Avatar
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    Quote Originally Posted by MsAnneThrope View Post
    Anglo probe team warns sift of bank 'cannot be rushed'



    That last sentence has made me very suspicious. Very twee. I believe it's an attempt to placate us. Why is it taking so long? Is it connected in any way to waiting for NAMA to be set up do you think? When you compare it to the speed Madoff was investigated, charged and sentenced in the U.S. it really makes you wonder.

    Meanwhile Seanie is living it up as though nothing has happened, and Drumm has bought not one but two luxury houses in Cape Cod in the U.S. for $7.2 million, having put his Malahide house on the market for €2.79 million. He obviously doesn't have any intention of coming back here. That won't stop him (and ex-finance director Willie 'Fair play to ya' McAteer) pursuing their 2006 bonuses that are now due though, and compensation. In a statement last January, Finance Minister Brian Lenihan acknowledged that Anglo directors who lost their positions would "retain their right to pursue compensation for loss of office"
    Is this whole investigation nothing more than a smokescreen in this great little country of ours?
    That bit is very galling.
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    Politics.ie Member Aindriu's Avatar
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    Quote Originally Posted by jpc View Post
    That bit is very galling.
    Indeed. My guess is that their lawyers are drafting the compo claims as we write.

    Yet again the ones at the top are being protected by Fianna FAIL
    If you continue to elect idiots in elections, don't be surprised when the result is an idiotic government.

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    Politics.ie Member MsAnneThrope's Avatar
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    I also wonder if some of the people saying they're annoyed or concerned or whatever about the delay in the investigation are just playing mind games...
    We all love animals. Why do we call some 'pets' and others 'dinner'?

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    Politics.ie Member MsAnneThrope's Avatar
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    Default Spin, spin and more spin...

    Note the use of quotation marks on each page:

    On Neil Blaney's FF website, Feb 24th, 2009:

    Anglo Irish Bank investigation progressing - Blaney

    "I was happy to hear that Gardai have begun a number of searches at the offices of Anglo Irish in Dublin. I understand that the Garda Commissioner has assigned a number of officers from the Bureau of Fraud Investigation to assist other Gardaí who are working with the Director of Corporate Enforcement.”

    “It is vital that every necessary resource is provided to ensure that the investigation is speedy and effective. It is vital for public confidence, particularly as the taxpayer now owns the Anglo-Irish Bank.”

    “I look forward to the investigation by the ODCE being completed as quickly as possible,’ concluded Deputy Blaney.
    Now, by extreme coincidence, Thomas Byrne TD had this to say about it on his FF website, also on Feb 24th, 2009:

    Byrne welcomes Gardai investigation of Anglo Irish

    “I was happy to hear that Gardai have begun a number of searches at the offices of Anglo Irish in Dublin. I understand that the Garda Commissioner has assigned a number of officers from the Bureau of Fraud Investigation to assist other gardaí who are working with the Director of Corporate Enforcement.”

    “We felt it was very important every necessary resource was provided to ensure that any investigation was speedy and effective. It is vital for public confidence particularly as the taxpayer now owns the Anglo-Irish Bank.”

    I look forward to the investigation by the ODCE being completed as quickly as possible,’ concluded Deputy Byrne.
    Maybe they just have similar writing styles? But then, what's this? From Margaret Conlon's personal website a day later, on February 25th, 2009:

    ANGLO IRISH BANK INVESTIGATION PROGRESSING – CONLON

    "I was happy to hear that Gardai have begun a number of searches at the offices of Anglo Irish in Dublin. I understand that the Garda Commissioner has assigned a number of officers from the Bureau of Fraud Investigation to assist other Gardaí who are working with the Director of Corporate Enforcement.”

    “It is vital that every necessary resource is provided to ensure that the investigation is speedy and effective. It is vital for public confidence, particularly as the taxpayer now owns the Anglo-Irish Bank.”

    “I look forward to the investigation by the ODCE being completed as quickly as possible,' concluded Deputy Conlon.
    Summary: Here's a bit of auld bumph about Anglo lads. Shtick it up on yer interweb facegroup or goggle or bobo or whatever ya call it, and make it look like ye wrote it yerselves. The plebs will think we're serious about investigating Anglo.
    Last edited by MsAnneThrope; 27th July 2009 at 06:09 PM.
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    Politics.ie Member MsAnneThrope's Avatar
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    Default Ex-Anglo chief Drumm back in the property finance game...

    Irish Independent: Ex-Anglo Irish chief sells one of two US homes for €1.75m

    FORMER Anglo Irish Bank boss David Drumm has reached an agreement to sell one of his two homes in Massachusetts for around $2.5m (€1.75m).

    The Cape Cod property was acquired by Mr Drumm and his wife in September 2008 for almost $2.6m, just as the Irish banking system faced complete collapse [...]

    The Drumms also own a house at Stage Neck Road in Chatham, for which they paid $4.6m in March 2008.

    Soon after he resigned from Anglo Irish Bank, Mr Drumm established a company in Massachusetts called Harborlight Capital Partners.

    Its business objectives are described as being to provide advisory and management services in the real estate finance sector.
    Old dogs, new tricks etc...
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    Fine. He has a 2.7million pound house in Malahide? Would he like to exchange his pursuit of a bonus to which he is not entitled(on the basis that the bank were fraudulently reporting overstated valuations) for NOT finding his 2.7million euro house floating around in bits off the coast?

    Because if FF and the Guards screw this up either wilfully or come out with some lame excuse to let him off the hook it is my honest opinion that he should be beachcombing to find bits of his former Malahide mansion.

    Its about time that these people realised it isn't only the FF polluted legal system in Ireland they have to worry about.

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    Didn't Alan Dukes (Government appointed Director on Anglo) query why the investigation was taking so long? He said that Appleby noted he had prima facea evidence in February to warrant an fraud investigation into Anglo. So if he had some kind of evidence in February, what is taking him so long?

    Just the same old rubbish in Ireland I guess - cronyism, old boys club etc etc It is all very sickening.

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    While our political parties continue to be based on funding, secret or open, from rich businesses and individuals, people like Fitzpatrick will never see the inside of a jail cell.

    This is Ireland...rich people don't go to jail.

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    Quote Originally Posted by MsAnneThrope View Post
    Note the use of quotation marks on each page:

    On Neil Blaney's FF website, Feb 24th, 2009:



    Now, by extreme coincidence, Thomas Byrne TD had this to say about it on his FF website, also on Feb 24th, 2009:



    Maybe they just have similar writing styles? But then, what's this? From Margaret Conlon's personal website a day later, on February 25th, 2009:



    Summary: Here's a bit of auld bumph about Anglo lads. Shtick it up on yer interweb facegroup or goggle or bobo or whatever ya call it, and make it look like ye wrote it yerselves. The plebs will think we're serious about investigating Anglo.
    ..And yet the Irish electorate continue to fall hook, line and sinker for this codology... it's just.. aghhhhhhh.. I can't even articulate my frustration.

    I'm off home to home to take it out on the dog.
    "If you are neutral in situations of injustice, you have chosen the side of the oppressor", Desmond Tutu

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