Countdown to raid on Anglo:May 2007 Anglo Irish Bank’s shares peak at more than €17 each
July 2008 A so-called “golden circle” of ten investors secretly buys a 10 per cent stake in the bank
September 30 Government unveils a €400 billion guarantee scheme for six banks, including Anglo Irish
December 18 Sean FitzPatrick, the chairman, resigns and admits he hid more than €80 million in secret loans from shareholders
Decemeber 19 David Drumm, the chief executive, resigns
December 21 Government recapitalises Anglo with €1.5 billion
December 29 Shares plummet to 12 cents
January 15, 2009 The Government is forced to nationalise Anglo
January 16 Shareholders call for the board to be sacked
January 19 Five board members resign
February 10 Irish Life & Permanent’s €7 billion deposit to boost Anglo’s balance sheet is revealed
February 20 Donal O’Connor, the new executive chairman, reveals that it gave loans worth €451 million to ten customers last year to buy shares in the bank.
Posts Tagged ‘Irish Life’
Police raided the headquarters of Anglo Irish Bank in Dublin yesterday morning
February 25th, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: Anglo Irish Bank, Balance Sheet, Board Members, Corporate Scandals, David Drumm, December 29, Director Of Corporate Enforcement, Donal, Economic Woes, Executive Chairman, Guarantee Scheme, Irish Life, Irish Republic, Irregularities, O Connor, Office Of The Director Of Corporate Enforcement, Police Officers, SeáN Fitzpatrick, Stock Market, Yesterday Morning 
No Comments »Garda Fraud Squad in the investigation of newly revealed banking practices,Anglo Irish Bank.
February 12th, 2009 Before You Invest Financial Regulator is investigating the placing of a €4 billion deposit with Anglo Irish Bank by IL&P on September 30th, the day the bank’s financial year ended. It is understood that deposits placed by IL&P with Anglo during September totalled between €6-€7 billion, although €4 billion was lodged with Anglo Irish on September 30th, hours after the State’s bank guarantee was announced.The news hit Irish Life shares which lost as much as 19 per cent in early trade and at 3.20pm were trading at 5.7 per cent lower at €2.03 in Dublin.called for the resignation of top bank personnel and for the involvement of the Garda Fraud Squad in the investigation of newly revealed banking practices, while an Independent senator claimed the Government had bought a “pig-in-a-poke”.Terry Leyden (FF) said yesterday that the Government had been misled with regard to Anglo Irish Bank.
Posted in Finance Fraud Tags: Anglo Irish Bank, Bank Guarantee, Cartel, Chief Executive, Dublin, Ff, Financial Regulator, Fraud Investigation, Fraud Squad, Houses Of The Oireachtas, Independent Senator, Irish Life, Irish Nationwide, Leyden, Pig In A Poke, Regard, Resignation, Ross, SeáN Fitzpatrick, Shane No Comments »
