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Whelan not guilty on some Anglo charges

Wednesday, April 09 12:37:03

The jury in the Anglo Irish trial has been directed to find Pat Whelan not guilty of seven charges of being privy to the fraudulent alteration of a loan document and to find Sean FitzPatrick not guilty on charges related to the Quinn family loans.

"For good reason I have directed not guilty verdicts," Judge Nolan told jurors. "It will all be made apparent to you in due course."

The jury of seven men and seven women is to return after lunch when it will hear if the defence intends to call evidence, RTE online reported this morning.

Mr FitzPatrick still faces ten charges of illegally loaning money to the Maple Ten group of investors to buy shares in the bank.

This was part of a plan to unwind Sean Quinn's 29.4pc control of Anglo which officials believed was driving down the share price.

Mr Whelan and former Anglo Director of Finance William McAteer also still face these charges as well as six charges relating to the loaning of money to the Quinn family.

The three accused are 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.

Mr Whelan, 51, of Malahide, Dublin and Mr McAteer, 63, of Rathgar, Dublin are 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.

Mr FitzPatrick, 65, of Greystones, Co Wicklow, is now charged with loaning money to Maple Ten only.

All three have denied the charges.

The trial is now entering its tenth week.