Why hasn't Sean Fitzpatrick been charged?

tlev

Why hasn't Sean Fitzpatrick been charged with fraud or misleading investors? Its absolutely disgraceful that he is able to get away with hiding 87m in loans for personal use and nothing is done.

In the USA Bernie Madoff was sentenced to 150years in prison, now I know his crime was somewhat different but just like Fitzpatrick he mislead investors and Fitzpatrick is off playing golf and enjoying the weather!

Whoops! sorry wrong forum...meant to put this in the politics!

Fat_Fingers

Official line is that they are still collecting the evidence.
However cynics among us might think that the reason why nothing is happening is because prosecution will expose just how much politicians and senior civil servants had known and participated in this.
Yes do go after artist who "illegally" hung the picture in the gallery and charge him with nail damage to the wall but leave good old , well connected Sean Fitzpatrick alone coz he might bring down some big wigs with him.
I'm sure there will be tribunal in 20-30 years.

tlev

Somehow that doesnt really seem like justice...20 30 years later...but if he is still alive and goes to prison then maybe just maybe!

Fat_Fingers

He might be well connected with current political elite and it might all end up like Charles Haughey, i.e. tribunal and state funeral while Haughey family benefited hugely from that despicable man's actions.
But i heard our esteemed Sir Sean Fitzpatrick was shocked and outraged when he showed up in Shanahans on the Green and he got booed and thrown bread rolls at. Staff had to ask him to leave "for his own safety". Its good to see that even rich dinning in posh restaurant don't want to put up with what was once one of their own.

amacca

Fat_Fingers wrote: »

Official line is that they are still collecting the evidence.
However cynics among us might think that the reason why nothing is happening is because prosecution will expose just how much politicians and senior civil servants had known and participated in this.
Yes do go after artist who "illegally" hung the picture in the gallery and charge him with nail damage to the wall but leave good old , well connected Sean Fitzpatrick alone coz he might bring down some big wigs with him.
I'm sure there will be tribunal in 20-30 years.

And Im sure the solicitors on that tribunal will work more days than there actually are in a working year and collect millions in the process while deciding on who best to scapegoat while letting the other sleeveens off the hook.

jmayo

Fat_Fingers wrote: »

He might be well connected with current political elite and it might all end up like Charles Haughey, i.e. tribunal and state funeral while Haughey family benefited hugely from that despicable man's actions.
But i heard our esteemed Sir Sean Fitzpatrick was shocked and outraged when he showed up in Shanahans on the Green and he got booed and thrown bread rolls at. Staff had to ask him to leave "for his own safety". Its good to see that even rich dinning in posh restaurant don't want to put up with what was once one of their own.

Since our authorities don't appear to be doing much about him or anybody else responsible for the financial mess (don't forget fingers fingleton, david drumm, patrick neary, boucher, etc) then it is up to the people.
And before anybody starts quoting forum rules and guidelines, I am not talking violence but a complete boycott.

These people should be treated as social pariahs much like we would treat paedophiles.
In their greed they showed no regard for us, the people of this country, then they have no damm right to share with us in what is now left of this country.

The only reason they should remain in this country is to see the inside of a p
prison cell whilst their ill gotten assets are stripped.

And for anyone that doesn't know what mr slimeball fitzy thought of us then listen to his interview on Marrion Finucane show.

amacca

jmayo wrote: »

Since our authorities don't appear to be doing much about him or anybody else responsible for the financial mess (don't forget fingers fingleton, david drumm, patrick neary, boucher, etc) then it is up to the people.
And before anybody starts quoting forum rules and guidelines, I am not talking violence but a complete boycott.

These people should be treated as social pariahs much like we would treat paedophiles.
In their greed they showed no regard for us, the people of this country, then they have no damm right to share with us in what is now left of this country.

The only reason they should remain in this country is to see the inside of a p
prison cell whilst their ill gotten assets are stripped.

And for anyone that doesn't know what mr slimeball fitzy thought of us then listen to his interview on Marrion Finucane show.

Couldn't agree more and I rarely agree 100% with any poster.

ceret

tlev wrote: »

Somehow that doesnt really seem like justice...20 30 years later...

Justice delayed is justice denied.

Here's hoping a change in government could induce the new politcal overloads to chase after him and expose the FF racket for what it is, as a way of scoring political points.

Nodin

tlev wrote: »

Why hasn't Sean Fitzpatrick been charged with fraud or misleading investors?

Because they'd have to prove that he's done that, or breached some regulation. As Ireland is relatively unregulated, the chances of the latter having occurred are slim, obviously. The somewhat strange investment/loan policy of Anglo was itself not illegal, as far as I'm aware, and I doubt thats going to come against him. ( The more informed amongst us should feel free to make my day correct me and tell me I'm wrong there)

Secondly, with regards the "golden circle", there are tapes of the conversations with both the financial regulator and the department of finance extant, and in the poessession of Gardai. These are records owned by Fitzpatrick and the fact that they were made and kept should be a hint as to the chances of him being charged - ie SFA. Depressing load of shite, isn't it?

amacca

Nodin wrote: »

Secondly, with regards the "golden circle", there are tapes of the conversations with both the financial regulator and the department of finance extant, and in the poessession of Gardai. These are records owned by Fitzpatrick and the fact that they were made and kept should be a hint as to the chances of him being charged - ie SFA. Depressing load of shite, isn't it?

yes its very depressing, so you're saying he recorded the conversations himself as an additional insurance policy?

pity we cant prosecute him for being a devious cunning little bankster with no social conscience

getting a couple of bread rolls chucked at you just doesn't seem to cut it.

also shows that he wasn't flying solo and he may not be being pursued too aggressively due to the amount of other people in high places he would drag down with him, no wonder there's virtually zero detailed information out there on exactly who was involved and what went on.

depressing when an institution is allowed to become of systemic importance and even more depressing that one man should wield so much influence in such an organization without some sort of checks and balances in place.

tlev

What is even more depressing is that he is out and about trying to start up a new business...:(

Nodin

amacca wrote: »

yes its very depressing, so you're saying he recorded the conversations himself as an additional insurance policy?

pity we cant prosecute him for being a devious cunning little bankster with no social conscience

getting a couple of bread rolls chucked at you just doesn't seem to cut it.

also shows that he wasn't flying solo and he may not be being pursued too aggressively due to the amount of other people in high places he would drag down with him, no wonder there's virtually zero detailed information out there on exactly who was involved and what went on.

depressing when an institution is allowed to become of systemic importance and even more depressing that one man should wield so much influence in such an organization without some sort of checks and balances in place.

That's the impression I got certainly. I'll see if I can find the relevant articles when time permits.

As for social conscience, he has no legal obligation. The idea he has a moral obligation is just that.
With regards to the fact that they (as there was more than him in it) are able to walk away from the mess essentially without financial penalty - yes, they can, unless found guilty of "reckless trading". Again, I wouldn't be optimistic.

It's the kind of thing that - particularily if you'd lost serious money - could well affect your mental health. The sense of greivance and injustice etc.

amacca

tlev wrote: »

What is even more depressing is that he is out and about trying to start up a new business...:(

Think he would give me loan?

I know a nice little plot of land out in ballsbridge that's literally a steal!

weird

tlev wrote: »

Why hasn't Sean Fitzpatrick been charged with fraud or misleading investors? Its absolutely disgraceful that he is able to get away with hiding 87m in loans for personal use and nothing is done.

In the USA Bernie Madoff was sentenced to 150years in prison, now I know his crime was somewhat different but just like Fitzpatrick he mislead investors and Fitzpatrick is off playing golf and enjoying the weather!

Whoops! sorry wrong forum...meant to put this in the politics!

It will happen the same day Osama Bin Laden is captured.

dan_d

Because he'd probably bring down the entire Fianna Fail party with him.

LostinBlanch

Because this is Ireland and not a properly functioning society where all laws apply to all the people.

He's a well connected part of the establishment and is protected by this.

J Mayo I have been calling for that for weeks now. They should be treated with exactly the same consideration and respect they show to us.

A dangerous vaccuum is appearing where it's becoming even more apparent that the law applies only to little people. They're really rubbing our noses in it. I wonder how the establishment would feel if people begin to take the law into their own hands? Not that I'm calling for this, but I can see it happening.

jonsnow

Even if any case is ever brought against him (doubtful).He will probably just do a Michael Lynn and retire to a life of luxury in South Africa or Spain.

Jaysoose

Do you know the worst thing about the situation we find ourselves in is the full force of the law is brought to bear on a group of disgruntled travel agents while Sean fitzpatrick is effectively allowed to bring down a financial institution and deceive the irish public to the tune of hundreds of millions and he is walking about like his sh1t doesnt smell.

Really depressing when you think about it, they are laughing in our faces.

Fat_Fingers

i wonder what big institutional investors from outside think about our little place where people responsible for mess likes of Seán Fitzpatrick and Patrick Neary and the others are walking around free and have been replaced by incompetent assistant next in line for the promotion.

Let not forget astonishing brilliance of our Irish Financial Regulator

"Irish banks are resilient and have good shock absorption capacity to cope with the current situation" - - Patrick Neary, Chief Executive, Irish Financial Regulator, September 19, 2008: - two days after the collapse of US investment bank Lehman Brothers

Neary was ousted in early 2009 with a golden handshake of €630,000 - - he received a special €202,000 pay-off and a €428,000 retirement lump sum.
In addition to the initial bonanza, Neary is entitled to an annual pension of €142,670 and every time the incumbent chief executive gets a pay increase, Neary's pension will rise.

jonsnow

Fat_Fingers wrote: »

have been replaced by incompetent assistant next in line for the promotion.

Thats the really annoying thing.The corporate culture of Irish banking hasn,t changed one jot.I mean Fitzpatricks replacement Donal Oconnor was appointed to the board by him-and the government have just accepted him!!!.If ever it was time for an outsider to be appointed.

As for the financial regulator I don,t think they,ve bothered to replace neary yet.But what are the odds it,ll be another internal company man.Pretty high I,d say.

worded

Excellent thread. I thought the rage about this low life had faded. But not on www.boards.ie

Idea - lest "we" forget, can people print this thread off and leave it where ever possible on the Dart, busses or canteen rooms in work to get people talking and acting.

There is a print friendly setting on boards, under thread tools - show printable version

worded

Great thread. Inspired me to write this.
http://www.boards.ie/vbulletin/showthread.php?t=2055641960