Ireland's mainly unpopular banker was yesterday found not guilty in a connection of financial irregularities in the management of the institution he headed, Anglo-Irish Bank.
The former chairman Sean Fitzpatrick which is now defunct bank, walked free from the Dublin's Circuit Criminal Court after the panel of judges cleared him on the charges of giving illegal loans to customers to support up its share price.
The panel of judges has yet to deliver judgments on the two of the bank's former directors following a 10-week hearing which has involved strong media and public interest. All three had denied of giving illegal loans to the customers in 2008 to buy bank shares.
The Anglo-Irish bank was one of Dublin's most aggressive banks during the years of the Celtic Tiger, when the Irish economy practiced the biggest boom in his economy, followed by the recorded crash. After it fall down Mr. Fitzpatrick was declared as bankrupt.
The bank has been broadly blamed for contributing to the massive banking collapse which brought the country to the edge of bankruptcy. However, it was wound up at the colossal cost, while the other banks also went under.
Ireland has only newly begun to demonstrate the beginnings of the recovery following its borrowing of billions from the international financial institutions. The lack of jobs in fresh years has led to migration on a huge scale, mostly by young people.
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