Former director of lending at Anglo Irish Bank Pat Whelan
Former director of lending at Anglo Irish Bank Pat Whelan has been fined €3,000 for failing to maintain a register detailing an €8m loan to another former director of the bank.
Willie McAteer, Anglo’s former head of finance, has pleaded guilty to fraudulently obtaining a loan for more than €8m from the bank on 29 September 2008. He will be sentenced next Monday.
… Lawyers for Whelan said it would not normally be his role to maintain such a register but the legislation imposes an obligation on all directors aware of such loans to see that it is done.
The maximum penalty for the offence of failing to maintain a register of loans to directors is almost €13,000.
… Whelan has a previous conviction for giving unlawful loans to ten developers to buy shares in Anglo.
He was sentenced to 240 hours of community service after that trial.
Previously: Gone In 120 Seconds