02/11/2012

Sean Quinn Jailed For 9 Weeks

Sean Quinn has been sentenced to nine weeks in jail for contempt of court.

The sentencing sees the culmination of a high-profile legal battle between the Quinns and bailed-out bank Anglo Irish over claims of asset-stripping by the former billionaire.

Sentencing at Dublin High Court is expected to occur at 13:00.

Ms Justice Elizabeth Dunne said Mr Quinn’s evidence was "not credible, evasive and uncooperative".

"In my view he has only himself to blame" she said.

Mr Quinn still has the opportunity to appeal the decision.

The news comes as a further blow to the Quinns. Last month the Supreme Court dismissed an appeal by Sean Quinn Jnr against his three-month jail sentence under similar charges.
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At the High Court at the end of July 2012, it was found that Sean Quinn, his son Sean Quinn Jnr and his nephew Peter Darragh Quinn had defied court orders by asset stripping.

The men were found to have put about half a billion euros beyond the reach of the Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank.

Sean Quinn Jnr was sent to jail for three months, while his father was initially spared a sentence in order to take steps to reverse the asset-stripping scheme.

Peter Darragh Quinn has avoided jail by not showing up at the July hearing and remaining in Northern Ireland.

But lawyers for IRBC said there has been no co-operation from Sean Quinn Snr to comply with court orders to reverse the asset-stripping of Quinn companies.

The court was told "nothing had been done and no steps had been taken".

It remained a possibility that the bank would apply to jail the Quinns.

(IT)

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