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Irish Mirror
Irish Mirror
National
Marita Moloney

Former Anglo Irish Bank chief Sean FitzPatrick dies suddenly aged 73

The former chief executive of Anglo Irish Bank Sean FitzPatrick has passed away at the age of 73.

The father-of-three died after a short illness on Monday, a spokesman for his family confirmed.

Mr FitzPatrick served as CEO of Anglo Irish from 1986 until 2005 when he became its chairman.

He resigned from that position in December 2008 when details of the transfer of multi-million euro loans between the bank and Irish Nationwide were revealed.

In 2017, Mr FitzPatrick's trial for allegedly misleading the bank's auditors about millions of euro in loans between 2002 and 2007 collapsed.

He had pleaded not guilty to 27 offences under the 1990 Companies Act which included 22 charges of making a misleading, false or deceptive statement to auditors and five charges of furnishing false information in the years 2002 to 2007.

The DPP had dropped some of these charges in the weeks leading up to the trial's conclusion.

The prosecution came on foot of an investigation by the ODCE that began shortly after the full size of Mr FitzPatrick's personal loans emerged in December 2008.

Between 2005 and 2007 the loans from the bank linked to the chairman had quadrupled to around €122 million.

After more than 120 days of the trial, the judge directed the jury in the case to acquit Mr FitzPatrick of all counts.

Judge Aylmer said that after considering the arguments from both sides he had decided that in the interests of the former banker's constitutional right to a fair trial he would direct the jury to find him not guilty.

He said that the investigation, carried out by the Office of the Director of Corporate Enforcement (ODCE), fell short of an unbiased, impartial, balanced investigation that an accused is entitled to.

Mr FitzPatrick is survived by his wife Catriona and three children, David, Jonathan and Sara.

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