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Wednesday
Jul252012

PERP WALK - Former CEO & Chairman Of Anglo Irish Bank Arrested For Fraud

The Irish bankster perp walk begins precisely at the 1:18 mark.

It's long-past time this punk faced a jury of his peers.

The former Chief Executive and Chairman of Anglo Irish Bank has appeared in court in Dublin charged in connection with financial irregularities at the bank.  Sean FitzPatrick was charged with 16 offences under Section 60 of the Companies Act.

Sean Fitzpatrick is a bit like Madoff -- he's in many ways a one-off, run-of-the-mill crook. The funny thing about bankers in Ireland is that most of them were just stupid and over-exuberant -- and some of them, like Seanie, tried to take the money and run when the ship started to go down. (Sorry about the mixed metaphor -- of course, most bankers think they can walk on water...) No way he'll get off, but the real story, as we know, is that "austerity" continues to grind down the country so that bankers can get paid off and, just as important, so the Europhiles can keep their precious monetary union. I'm happy to see Fitzpatrick get his comeuppance -- I just hope this little side-show doesn't sap energy from the larger fight.

 

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Reader Comments (10)

Waiting for your thoughts, Dr. P...
Jul 25, 2012 at 12:08 PM | Registered CommenterDailyBail
Hah! I was just clocking in here. Sean Fitzpatrick is a bit like Madoff -- he's in many ways a one-off, run-of-the-mill crook. The funny thing about bankers in Ireland is that most of them were just stupid and over-exuberant -- and some of them, like Seanie, tried to take the money and run when the ship started to go down. (Sorry about the mixed metaphor -- of course, most bankers think they can walk on water...) No way he'll get off, but the real story, as we know, is that "austerity" continues to grind down the country so that bankers can get paid off and, just as important, so the Europhiles can keep their precious monetary union. I'm happy to see Fitzpatrick get his comeuppance -- I just hope this little side-show doesn't sap energy from the larger fight.
Jul 25, 2012 at 12:18 PM | Unregistered CommenterPitchfork
Also, as David McWilliams has pointed out, the Irish bankers weren't using lots of derivatives and packaging synthetic CDO's and whatnot. All the crap real estate was still on their books. Hence the NAMA and all the rest of it.

Speaking of the Anglo-Irish, I just came across this priceless interview with the late Alexander Cockburn. He's talking about nuclear power, global warming, and the elites' vested interest in "bullshit." Just fill in the blanks with Geithner, bank balance sheets and "the recovery" and it amounts to much the same thing. Good stuff.

http://www.youtube.com/watch?v=n92YenWfz0Y
Jul 25, 2012 at 12:22 PM | Unregistered CommenterPitchfork
You know the Irish were doing fine they had a better GDP then France, Germany then their stinking politicians nationalized the Banks which SOCIALIZED the losses flashback

Ireland's Fate Tied to Doomed Banks

http://online.wsj.com/article/SB10001424052748704506404575592360334457040.html

Now if we only saw arrests in the U.S. doubtful though with those douchebags obama/holder

THE CHICAGO WAY: JUSTICE FOR SALE AT HOLDER'S DOJ

http://www.breitbart.com/Big-Government/2012/05/07/justice-for-sale-holder

Why Can't Obama Bring Wall Street to Justice?

http://www.thedailybeast.com/newsweek/2012/05/06/why-can-t-obama-bring-wall-street-to-justice.html
Jul 25, 2012 at 1:03 PM | Unregistered CommenterLiberatedCitizen
+10,000 Pitchfork.

Alexander Cockburn will be missed.
Jul 25, 2012 at 6:23 PM | Unregistered Commenterjohn
Off with this fkrs head. Feed Lady Guillotine she is thirsty.
Jul 26, 2012 at 1:14 AM | Unregistered Commenterevilbughead
We need to put all these @$$ holes in prison. I can't wait when it happen here in the American. People of the World keep putting pressure on these SOB and the government.

END THE FED and THE WORLD BANKS.

RON PAUL Revolution Lives............Everyone protect your Liberty.
Jul 26, 2012 at 11:08 AM | Unregistered CommenterRon Paul
There is a God.
Jul 27, 2012 at 12:13 PM | Unregistered CommenterSKINFLINT
Four Iranians Sentenced to Death Over $2.3 Bln Bank Fraud

http://en.rian.ru/world/20120730/174861072.html

[snip]

Four Iranian citizens charged with defrauding Iranian banks of $2.3 billion have been sentenced to death, the Mehr News Agency reported on Monday citing the Prosecutor General Gholamhossein Mohseni E'jei.

“The convicts will be informed in the nearest future about the court’s decision to sentence the four of them to capital punishment,” Mohseni E'jei told the Mehr Agency, adding that two other people had been sentenced to life in prison and the rest of the accused, 33 Iranians, had received 25-year-long jail terms.
According to Iranian media, the Tehran-based Amir Mansour Arya Investment Company began taking out loans from top Iranian banks, Bank Saderat and Bank Melli, in 2007, using fraudulent documents.
Three years later, in 2010, investigators uncovered the scheme, which resulted in $2.3 billion in damages.
In November 2011, 39 people were arrested on embezzlement charges. Several top officials, including the heads of the Iranian National Bank and Bank Saderat, had been dismissed.
The Deputy Chairman of the Iranian Central Bank Hamid Pourmohammadi and the president’s Chief of Staff Inayatullah Riyahi, also suspected of being involved in the case, were arrested in November.
Jul 30, 2012 at 11:12 AM | Unregistered Commenterjohn
UPDATE:

Seán FitzPatrick facing 12 charges over financial irregularities

http://www.rte.ie/news/2013/0301/370277-sean-fitzpatrick-court/

[snip]

Former Anglo Irish Bank chairman and chief executive Seán FitzPatrick has been sent forward for trial on 12 charges in connection with alleged financial irregularities at the bank.
He is accused of making false, misleading or deceptive statements in relation to millions of euro to the company's auditors, Ernst and Young, over a six-year period.

The amounts on the charges are €5.1m in 2002; €14m in 2003; €23m in 2004; €42.1m in 2005; €60.9m in 2006 and €139.8m in 2007.

Judge Patricia McNamara noted this was not a legal aid case.

She remanded Mr FitzPatrick on continuing bail to appear before Dublin Circuit Criminal Court in three weeks’ time.
It is alleged that Mr FitzPatrick did not inform the auditors about loans to himself and others that he had authorised, or about an arrangement between Anglo and Irish Nationwide Building Society whereby Irish Nationwide loaned him money.
Mar 2, 2013 at 8:15 AM | Registered CommenterJohn

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