Anglo begins pursuit of McFadden's loans
Monday, 30 November 2009 19:48Anglo Irish Bank has begun proceedings against financier Niall McFadden to force him to repay borrowings of more than €15m.
The borrowings relate to loans granted in September and November last year.
Mr McFadden is also being pursued for payment of €6.3m by National Irish Bank arising from his personal guarantee to buy the Buy & Sell business.
NIB is also seeking the repayment of €8.56m in another personal guarantee.
Earlier, Garda Commissioner Fachtna Murphy said the team working on the investigation into Anglo Irish Bank is working diligently to ensure that the file is with the Director of Public Prosecutions at the earliest time.
The Commissioner said the case is extraordinarily complex, has massive scope and covers a long period of time.
He said that while fraud investigations are complex and take time, he hoped it would be complete 'in the next few months'.
He was speaking at the launch of Fraud Alert - a document jointly published by accountants PWC and An Garda Síochána.
