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About: Anglo Irish Bank hidden loans controversy     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatAccountingScandals, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: yago:Abstraction100002137yago:Act100030358yago:Event100029378yago:Gossip107223170yago:Informing107212190yago:PsychologicalFeature100023100yago:Report107217924yago:YagoPermanentlyLocatedEntityyago:Scandal107223811yago:SpeechAct107160883yago:WikicatAccountingScandals New Facet based on Instances of this Class

The Anglo Irish Bank hidden loans controversy (also known as the circular transactions controversy) began in Dublin in December 2008 when Seán FitzPatrick, the chairman of Anglo Irish Bank (the state's third-largest bank), admitted he had hidden a total of €87 million in loans from the bank, triggering a series of incidents which led to the eventual nationalisation of Anglo on 21 January 2009. FitzPatrick subsequently resigned his position and was followed within twenty-four hours by the bank's non-executive director, Lar Bradshaw and chief executive, David Drumm. A new chairman of Anglo, Donal O'Connor, was quickly appointed from the board, a move welcomed by the Irish Minister for Finance, Brian Lenihan. A number of investigations have been launched into the reasons behind the three resi