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Ex-Irish Life finance chief acquitted in €7.2bn fraud case

Ex-Irish Life finance chief acquitted in €7.2bn fraud case

Ex-Irish Life finance chief acquitted in €7.2bn fraud case The former finance director of insurance and pensions group Irish Life has been found not guilty of conspiring with others to defraud customers and investors in 2008.
 
The Dublin Circuit Criminal Court has cleared Peter Fitzpatrick of charges that he helped in a €7.2bn scheme to mislead the public about the true financial health of Anglo Irish Bank, The Irish Examiner reported.
 
Fitzpatrick, 63, wept in court after the jury announced the verdict on June 3, following almost 47 hours of deliberations, the report added.
 
When asked by the media to comment as he was leaving the court building, Fitzpatrick said only that he was “relieved,” a video report by The Irish Times showed.
 
Fitzpatrick was acquitted just two days after the court convicted Anglo Irish Bank executives John Bowe and Willie McAteer in the same case, which has become the longest criminal trial in Ireland’s history.
 
Meanwhile, former Irish Life CEO Denis Casey continues to await the court’s verdict on similar charges against him.
 
The four finance executives, who have been on trial since January, had pleaded not guilty to charges that they conspired together in arranging a circular transaction scheme to strengthen the balance sheet of Anglo Irish Bank.


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