Sean FitzPatrick has been released from Bray Garda Station after being questioned for almost 24 hours about financial irregularities at Anglo Irish Bank.
The 61-year-old former chairman and chief executive of Anglo Irish Bank was released without charge just before 2pm this afternoon.
The Garda investigation is still continuing but a file on the case will be sent to the Director of Public Prosecutions.
After his release, Mr FitzPatrick walked briskly to a car and was driven away without making any comment.
He had been detained overnight at Bray, having been arrested by members of the Garda Bureau of Fraud Investigation at his home in Greystones, Co Wicklow at 6.30am yesterday. Gardaí also searched Mr FitzPatrick's home.
He was detained under Section 4 of the Criminal Justice Act.
Mr FitzPatrick was being questioned as part of what Gardaí describe as an investigation into alleged financial irregularities at a financial institution, understood to be Anglo Irish Bank. Sean FitzPatrick stepped down as chairman of Anglo Irish Bank in December 2008.
Finance Minister Brian Lenihan said, without naming Mr FitzPatrick, that he had always stated there was an extensive garda investigation underway. In a statement yesterday, he said he had been cautious not to prejudice that investigation and was eager to see justice take its course.
