The fatal error

Sean Quinn has lost a business empire that he spent his whole life developing – and all because of a €2.88bn gamble on Anglo shares

16th April, 2011

The announcement, when it came just after 11am last Thursday, was brief but unequivocal. Five paragraphs, just 340 words, ended Sean Quinn’s involvement in the group he founded 38 years ago.

Following a meeting with Quinn that morning, Anglo Irish Bank had appointed a receiver to take control of the shares in the ultimate parent company in Quinn’s industrial, insurance, leisure and property empire.

As a result, it said, ‘‘Sean Quinn and the...

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