Back in June 2013 some taped phone calls between staff at Anglo Irish Bank were “leaked” by the Irish Independent. See Here
The conversations suggest that the Financial Regulator was misled by staff at Anglo Irish
This week it appears no action will be taken because the Central Bank have stated it
“does not intend, and is not required, to make any further statutory reports of suspected criminal offences to An Garda Síochána or the Office of the Director of Corporate Enforcement in relation to this matter.”
Full statement released on 24th September – “ The Central Bank has reviewed the issues arising in the tapes of call recordings at Anglo Irish Bank (now Irish Bank Resolution Corporation Limited (in Special Liquidation)) which were released to date in the Irish Independent. The tapes raised concerns that Anglo may have deliberately misrepresented its financial position when it sought financial support from the Central Bank in 2008. The Central Bank has examined Anglo’s interaction with the Central Bank at the time in relation to this matter. No new issues have been identified that relate to suspected criminal offences having occurred and as a result, the Central Bank does not intend, and is not required, to make any further statutory reports of suspected criminal offences to An Garda Síochána or the Office of the Director of Corporate Enforcement in relation to this matter.”
Just a reminder – the bailout of Anglo Irish has cost about €50 Billion