Anglo accused of misleading Financial Regulator on loans

Three businessmen who received loans totalling almost €10 million from Anglo Irish Bank claim that the bank deliberately misled the Financial Regulator about impaired loans.

28th May, 2011

Three businessmen who received loans totalling almost €10 million from Anglo Irish Bank claim that the bank deliberately misled the Financial Regulator about impaired loans.

Anglo Irish Bank is suing John Flanagan, Gerry Lillis and Ted Joyce for €9,890,620 plus interest.

The bank said it made four loans - to Flanagan alone, to Flanagan and Lillis, to Atlantis Developments Ltd (guaranteed by Flanagan and Lillis), and to Liscannor Properties Ltd, guaranteed by Flanagan and Joyce.

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