Sean FitzPatrick, who stepped down in December 2008 from his job as chairman of the Anglo Irish Bank, is being questioned by Irish police about alleged financial irregularities. FitzPatrick has already admitted to concealing millions of euros in personal loans from the Dublin-based bank that became symbolic of the decline of the so-called "Celtic Tiger" economy. The bank was nationalised by the Dublin government in 2009 after it threatened to collapse in the face of a property crash.

Last year, Anglo reported the biggest loss in Irish corporate history when it made a loss of 4.1bn euros (£3.7bn) in the six months to March on the back of large impairments on its property loans to developers. Its latest set of results, due to be published soon, are expected to be much worse.  

Last week Mr FitzPatrick told the bank he could not repay 70m euros (£63m) he owes in unpaid loans. As a result, the bank has started legal action against him in an attempt to recover the debt.