Anglo Irish Bank says total level of loans to directors stands at €179m - Where were the auditors Ernst & Young?
Jan 16th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Anglo Irish Bank, which is due to be taken over by the Irish State, disclosed today that the total level of loans to directors stands at €179m. The company's new chairman, Donal O'Connor, made the revelation at an extraordinary general meeting (EGM) of the bank in Dublin today. It begs the question as to what the auditors Ernst & Young were doing when they apparently did not spot the huge loan transfers to Irish Nationwide Building Society, over 8 years when only about €41 million was disclosed in the accounts?