Dermot Ahern (Louth, Fianna Fail)

The reprehensible events at Anglo Irish Bank have caused enormous damage to our country. There is a clear and overwhelming public interest that, where it is shown that anyone involved in those events broke the law, they should face justice. Neither I nor the Government can seek to interfere, direct investigations or decide whether people should face charges. That is a cornerstone of our democratic system.

Given the grave issues at stake, it is right that I have sought to be kept fully briefed by the Garda Commissioner on the investigation. I will tell the House what I can about it. Of its nature, what I can say at this stage is limited. It is imperative that neither I nor indeed any Member of this House say anything that would have the effect, however unintended, of helping people to evade justice.

The investigation is a joint one, under the Garda Bureau of Fraud Investigation and the Office of the Director of Corporate Enforcement. It is headed by an assistant commissioner and the Director of Corporate Enforcement. The Director of Public Prosecutions has retained two senior counsel and one junior counsel to advise the investigators. Some 27 gardaí and 16 officers of the Office of the Director of Corporate Enforcement are assigned to the investigation.

This is the most complex investigation of its kind ever undertaken in the State. There are ten strands to it. It requires the analysis of a huge range of records - more than 100,000 documents, including e-mails and telephone and bank records. More than 350 people have been interviewed, and inevitably in a case like this, their witness statements can be extremely lengthy. Search warrants and court orders have been executed and persons arrested. Inquiries are taking place outside the State.

It is clear, therefore, that a huge amount of work has been undertaken. Investigators must follow every avenue to which their inquiries lead, so it is not possible to be precise as to when their work will be completed. I have been assured by the Garda Commissioner that the Garda Síochána has no higher priority than completing this investigation. For his part, the Commissioner meets regularly with his officers involved, ensuring that at all times they have every resource they require.

I well understand the fury of people at what happened at the bank. There is understandable indignation that no one has yet been brought before the courts. It would, however, do a huge disservice to those people to pretend that there is some simple or quick way of dealing with this matter that will be effective. What is important is that what happened is systematically and forensically investigated as quickly as possible, with a view to presenting cases to the Director of Public Prosecutions. That is exactly what is happening without fear or favour.

It is important too that we, as legislators, learn any lessons we can. That is why I asked the Garda Commissioner to have a look at the law in this area in May, based on the experience of this and other cases, and to make any recommendations for change. Company law and the law governing financial institutions are not primarily matters for me but my Department has been in contact with the Departments of Finance and Enterprise, Trade and Innovation on this. Those Departments have contacted my Department about the preparation of the White Paper on Crime, with a view to devising proposals in the area of white collar crime. We will publish a discussion paper on white collar crime in the not too distant future. We are also open to any suggestions from Members opposite on changes in this area.

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