Some fraud charges dropped against ex-Anglo chiefs

AP News
Posted: Apr 09, 2014 8:58 AM

DUBLIN (AP) — Thirteen fraud charges have been dismissed against two former leaders of Anglo Irish Bank.

The judge overseeing the 10-week-old trial made the partial acquittal order Wednesday after prosecutors finished their case against Sean FitzPatrick, Pat Whelan and Willie McAteer. Their defense starts next.

The judge dropped six charges against former chairman FitzPatrick and seven charges against former lending director Whelan.

The three men still face 42 charges of secretly lending more than 500 million euros ($700 million) to top clients for them to buy Anglo's sagging shares in 2008.

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Investigators have yet to bring charges over several other Anglo scandals involving hidden loans and losses.

Anglo's imminent collapse in 2008 forced Ireland to rescue it and five other banks. The multi-billion effort overwhelmed national finances and triggered an international bailout.