Fitz­patrick says thanks to fam­ily for their sup­port

Bray People - - NEWS -

GREY­STONES MAN Sean Fitz­Patrick thanked his fam­ily for their un­wa­ver­ing sup­port af­ter he was found not guilty of loan­ing money to the Maple Ten last Wed­nes­day.

Fitz­Patrick (65) of Grey­stones, was charged with ten counts of loan­ing money to the Maple Ten.

On Wed­nes­day, af­ter the jury de­lib­er­ated for nearly 14 hours over 4 days he was found not guilty and walked free from the court.

His co-ac­cused, Patrick Whelan and Wil­liam McA­teer were found guilty on var­i­ous charges on Thurs­day af­ter­noon.

Fitz­Patrick, McA­teer and Whelan, were charged at Dublin Cir­cuit Crim­i­nal Court with breach­ing Sec­tion 60 of the Com­pa­nies Act 1963 by lend­ing money to in­vestors to buy shares in An­glo.

Whelan (51) of Malahide, Dublin and McA­teer (63) of Rath­gar, Dublin were ac­cused of 16 counts of pro­vid­ing un­law­ful fi­nan­cial as­sis­tance to 16 in­di­vid­u­als in July 2008 to buy shares in the bank. The 16 in­di­vid­u­als are six mem­bers of the Quinn fam­ily and the Maple Ten group of in­vestors.

The Maple Ten deal was de­signed to un­wind the 29.4 per cent con­trol of the bank which busi­ness­man Sean Quinn had built up through in­vest­ment tools known as Con­tracts for Dif­fer­ence (CFDs).

The ten in­vestors were loaned a to­tal of €450 mil­lion by An­glo to buy around 10 per cent of the shares which Mr Quinn con­trolled. Mr Quinn’s wife and five chil­dren were also loaned €169 mil­lion to buy nearly 15 per cent of the stock.

Af­ter his ac­quit­tal on all counts Sean Fitz­Patrick is­sued a brief state­ment to the me­dia thank­ing the jury for find­ing him not guilty and ask­ing for pri­vacy.

‘First of all I would like to thank my wife, my two sons and my daugh­ter and my sis­ter who have sup­ported me, not only dur­ing this trial, but for the past six years of great per­sonal dif­fi­cultly.

‘I would of course es­pe­cially like to thank my le­gal team, so­lic­i­tor Michael Staines, Se­nior Coun­sel Michael O’Hig­gins, Ju­nior Coun­sel John Fitzger­ald and Gavin McCormack for their ded­i­ca­tion and hard work.

‘I would like also to es­pe­cially thank the women and men of the jury who found me not guilty of all charges.

‘ To all my friends, who have stood by me and in par­tic­u­lar two very spe­cial friends, I will al­ways be truly grate­ful for their sup­port dur­ing this very dif­fi­cult time.

On Thurs­day the jury found for­mer Di­rec­tor of Fi­nance McA­teer and for­mer head of Ir­ish lend­ing Whelan guilty of pro­vid­ing il­le­gal loans to ten in­di­vid­u­als to buy shares in the bank. The jury ac­quit­ted them of six charges each of lend­ing money to the Quinn fam­ily

The jury re­turned the fi­nal ver­dicts af­ter 16 hours and 53 min­utes of de­lib­er­a­tion over five days. The men made no re­ac­tion as the ver­dicts were read out. All guilty ver­dicts were unan­i­mous.

The trial lasted 48 days and was a re­sult of the big­gest fraud in­ves­ti­ga­tion in Ir­ish his­tory. It was the first time any­one was tried for the of­fence and the first time an en­larged jury of 15 heard was used.

Judge Martin Nolan set a sen­tence date of April 28 next at 2pm. He said he would be un­likely to give a de­ci­sion that day but would hear the ev­i­dence in the case.

Sean Fitz­patrick speaks to the me­dia af­ter his ac­quital.

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