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Fri 01 Jan 2009Quinn admits losing over €1bn on Anglo shares
Businessman Sean Quinn has confirmed that his family has sustained losses in excess of €1 billion on its investments in Anglo Irish Bank, but vigorously denied any impropriety in relation to his sharedealings in the bank.
In an interview broadcast on RTE this evening, Mr Quinn said that he and his family have written off their investments in Anglo. However, he stressed that they could absorb the loss as Quinn Group makes €400 or €500 million profit a year, and he strongly denied any wrongdoing.
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