Another Anglo Arrest

Former Anglo Irish Bank finance director Willie McAteer has been arrested this morning  at his home in Rathgar, south Dublin. He has been taken for questioning to Irishtown Garda station in Dublin.

Mr McAteer was arrested by members of the Garda Bureau of Fraud Investigation, the specialist unit investigating practices and alleged irregularities at Anglo Irish Ban

The arrest of the 59-year-old, who was also formerly the chief risk officer at Anglo,  follows the arrest of the bank’s former chairman Sean FitzPatrick last week. (He was released wuthout charge)

Mr McAteer was one of a number of directors to have been loaned substantial sums by the bank. In March of last year he had a loan of €8 million owing to Anglo. The loan is secured on Anglo shares, which are effectively worthless following the bank’s nationalisation.

Mr McAteer resigned just over 12 months ago . At the end of 2008 Mr McAteer had more shares in Anglo, at 3.5 million, than any other member of the board apart from Mr FitzPatrick.

Anglo Irish is also in the news today – it is expected to announce losses of around €12 Billion Euro later today – but it has also increased the pay of about 70 staff.