Two former Anglo executives have appeared in court for alleged fraud

Two former directors of Anglo Irish Bank have been charged in relation to an alleged ¬ 8m fraud at the former lender. Pat Whelan of Coast Road, Malahide and Willie McAteer with an address at Greenrath, Tipperary Town were arrested in Dublin city centre this morning. Anglo Irish Bank 53-year-old Pat Whelan used to work as Anglo’s director of lending in Ireland. His co-accused, 63-year-old Willie McAteer was finance director for the former bank. Both men were arrested after they were asked to meet with Gardai at the Bridewell Garda Station in Dublin this morning. The court heard they’re each facing one charge of fraud under the Companies Act. Mr. McAteer is accused of fraudently obtaining a loan for over ¬ 8.2m from Anglo to pay off a personal loan with Bank of Ireland in September 2008. In doing so, he caused a gain to himself and a loss to the bank, the charge reads. Mr. Whelan is accused of being a party to that loan. Both men were granted bail today after the court approved two independent sureties for 10,000 euro each. They’re due back in court in November.