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Anglo Trial-What the papers say

Friday, April 18 07:58:48

The Irish Times reports that Patrick Whelan and William McAteer have been found guilty of ten charges in the Anglo Irish Bank trial.

Mr Whelan, 52, of Malahide, Dublin and Mr McAteer, 63, of Rathgar, Dublin, were accused of 16 counts of providing unlawful financial assistance to 16 individuals in July 2008 to buy shares in the bank.

The 16 individuals were businessman Sean Quinn's wife and five of his children, and the so-called Maple Ten group of investors.

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The Irish Independent reports that The Quinns claim that loans given to them by the former Anglo Irish Bank, as Mr Quinn's "spectacular punt" on Anglo shares failed, are illegal.

But yesterday the family suffered a setback in their civil case after a jury at Dublin's Circuit Criminal Court said former Anglo directors Pat Whelan and William McAteer were not guilty of giving illegal loans to Mr Quinn's wife Patricia and their five adult children.

The Quinns have vowed to "go on with the show" after the biggest white-collar trial in Irish history.