Nama boss Frank Daly details Anglo board meetings
Nama chairman Frank Daly has told Sean Fitzpatrick’s trial about a number of board meetings he attended with him before his resignation.
Mr Fitzpatrick, who stepped down as Anglo Irish Bank’s Chairman in 2008, is accused of failing to disclose multi-million euro loans to the bank’s auditors.
Towards the end of 2008, Frank Daly was appointed to the board of Anglo Irish Bank as one of two public interest directors.
He said Sean Fitzpatrick called a board meeting on December 16, 2008, and disclosed to him that the accounts being prepared for publication would show an increase in director’s loans from €41m for year-end 2007 to €120m for year-end 2008, and that most of the increase would be attributable to his own loans.
He said he handed in his resignation as chairman of Anglo Irish Bank two days later.
The majority of the 27 charges denied by Mr Fitzpatrick allege that he made false, misleading or deceptive statements to Anglo’s auditors Ernst & Young between 2002 and 2007. He is also accused of making false statements to the same auditors.
