According to information obtained by former banker Peter Mathews TD, an alleged 1 Billion euro fraud at Anglo, NAMA and IBRC was systemic, not sporadic. Extra interest was added to 80% of loans taken out and this was actively concealed from the bank’s clients.
Anglo might have been over-inflating its margin by a third, Year, after year, after year, but this practice went on under NAMA and IBRC, according to a letter read out in the Dail on June 10 by Mathews.
Even more importantly, this information was known and is known to the current authorities and liquidators. Who did nothing with it.
One bank client, a Mr Morrissey asked his solicitors to write to Deputy Mathews and also provided evidence of the fraudulent practices, which were verified by Bankcheck.
The Systemic Failure Continues Today
“This fraud has been brought to the attention of the NTMA, NAMA and others but it has been ignored to date. I have the evidence here and it is shocking, mathews told the dail.” Let us stress t that Irish authorities were and are aware of this.
- An Irish court has ruled on this matter in favour of Mr. Morrissey.
- Mr Morrissey notified this to the bank.
- Mr. Morrissey also notified this to Nama and the Department of Finance in early January 2015. It was notified to the Central Bank in late January 2015, and to the Minister for Finance in early March 2015, and subsequently again to the Central Bank in early March 2015.
- And the case is being ignored.
- Mr. Morrissey says he has received no reply to his notifications from any official body.
- In Mr. Morrissey’s letter cited by deputy Mathews on June 10, Mr. Morrissey said he notified the then Chairman of IBRC, Alan Dukes TD of the overcharging as far back as in mid-January 2013. Simultaneously, he notified the Department of Finance, the Central Bank and the Financial Regulator.