BANK OF IRELAND WITHDRAWS FRAUD ALLEGATIONS AGAINST GALWAY BUSINESSMAN

Date Published: 19-Apr-2010

Bank of Ireland has withdrawn allegations of fraud against a prominent Galway businessman in relation to his debt of ten million euro.

Earlier this month, lawyers for the bank told the High Court they had a suspicion there was fraud and that John Sweeney had been hiving off funds that were due to the bank.

The court then ordered that his assets be frozen so they could not be reduced below the ten million he owed.

But today the bank withdrew these allegations saying it was now satisfied there was no intention on his part to conceal information or to secretly enrich himself.