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Former Anglo Irish boss arrested, reports

Sean FitzPatrick, the former chairman and chief executive of Anglo Irish Bank, has reportedly been arrested as part of a fraud probe.

The police didn't name 61-year old FitzPatrick, but confirmed that they had arrested a man in his early 60s and searched a house in Greystones, thought to be FitzPatrick's home, as part of a continuing investigation into alleged financial irregularities.

The finance ministry issued a brief statement saying: "There is an extensive Garda (police) investigation under way," adding that it was "eager to see justice take its course."

A source familiar with the situation told Reuters that the arrested man is FitzPatrick, while Irish public radio station RTE also named the man as FitzPatrick.

Officers from the Garda Bureau of Fraud Investigation are holding the man under Section 4 of the Criminal Justice Act. He can be held for 12 hours.

FitzPatrick stepped down in December 2008 when it emerged he had loans worth EUR87m with the Dublin-based bank.

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