Anglo case: High Court judge criticises delays in prosecuting corporate crime
A High Court judge has granted extra time to an investigation into Anglo Irish Bank while criticising delays in prosecuting corporate crime.
The probe, conducted by members of the fraud squad and the Office of the Director of Corporate Enforcement, was launched nearly two and a half years ago.
The Director of Corporate Enforcement asked the court for another six months to complete the mammoth task of investigating Anglo Irish Bank – but for the moment the Director has only been given until late July.
The probe is looking at a number of issues including the provision of financial assistance to certain persons to buy Anglo shares and the provision of loans to former Anglo directors.
The investigation kicked off in February 2009 with the seizure of millions of electronic and paper documents. More than two years later, files have been sent to the DPP but the work continues.
Mr Justice Peter Kelly today said the ODCE probe may be unique in its complexity but added that it "is certainly not unique in its lack of speed".
The judge said he has sent papers to the DPP in a number of commercial cases involving millions of euro where there has been evidence of criminal wrongdoing, but despite the fact that years have passed, no prosecutions have ensued.
