Fitzpatrick acquitted of concealing loans totaling €87 million et al.

20 June, 2017

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Seán FitzPatrick with his daughter Sarah

 

Seán Fitzpatrick was once head of the country’s biggest bank, Anglo Irish, which ended up requiring a €30bn (£26bn) government bailout and sent the country cap in hand to the International Monetary Fund for support. Fitzpatrick had pleaded not guilty to 27 offences under the Republic’s 1990 Companies Act. These include 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. after the longest criminal trial in Irish history, a judge ordered the jury to acquit him on all charges. Taoiseach Enda Kenny joined opposition parties in the Dáil in criticising the ODCE’s handling of the investigation. Kenny said if a government minister had performed as badly as some ODCE officials they would be sacked. Fitzpatrick’s resignation came amid controversy over hidden loans. For eight years Fitzpatrick concealed from auditors loans totalling €87 million that he had borrowed from Anglo Irish (by transferring them temporarily at year-end). Fitzpatrick conceded that this behaviour was inappropriate but denied any illegality, though he did resign as Anglo Irish Chairman. In 2014 he went on trial over allegations that he attempted to prop up Anglo’s share price, charges on which he was acquitted. Fitzpatrick went on trial for a second time for allegedly misleading auditors over details of Anglo Irish’s lending. He was acquitted, again, in May as the case against him collapsed. The ODCE stressed that the judge’s criticisms, whilst valid, refer to incidents and practices that occurred in 2009, and that subsequent changes had been made.

 

[June 2 2015 Delta National Bank & Trust Co.: banker to the FIFA guys ]

Aloysio De Andrade Faria, a 94-year-old billionaire with an affinity for Arabian horses

Aloysio De Andrade Faria, a 94-year-old billionaire with an affinity for Arabian horses

A small private bank controlled by a reclusive Brazilian billionaire shows up more than two dozen times in U.S. prosecutors’ corruption charges against world soccer officials. It’s hardly the bank’s first brush with scandal.
Delta National Bank & Trust Co. has had at least three previous run-ins with authorities on two continents over the past 15 years, including when Brazilian lawmakers probed its role as the banker for a scandal-tinged head of national soccer. In 2003, Delta pleaded guilty in the U.S. to failing to report transactions linked to a Colombian drug cartel.
Even so, Delta, with U.S. assets of $467 million, continued operations from its offices in Manhattan, Miami and Geneva. Some of that business, U.S. prosecutors alleged last week, included processing millions of dollars in bribe payments from a Sao Paulo-based sports marketing business to soccer officials affiliated with FIFA. Delta wasn’t named as a defendant or accused of any wrongdoing in a 47-count indictment released by the Justice Department.
Delta’s U.S. regulator, the Office of Comptroller of the Currency, is now investigating the bank’s role in those transactions, according to a person with knowledge of the matter who asked not to be named because the probe is ongoing.
Delta was established in the 1980s by Aloysio De Andrade Faria, a 94-year-old billionaire with an affinity for breeding prize milk cows and Arabian horses. Faria has built a business empire that includes Sao Paulo-based Banco Alfa de Investimento SA, Faria has maintained ties to Delta through a Cayman Islands investment company, according to a recent Federal Reserve document and a former employee. Aloysio de Andrade Faria is a Brazilian banker; In May 2015, his net worth was estimated at US$2.8 billion. A pediatrician by training, Aloysio shared his medical interest with the financial business sponsored by his father.

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