THE CONTINUING investigation into the conduct of Anglo Irish Bank could be finished within months, according to Paul Appleby, the Director of Corporate Enforcement.

Mr Appleby is heading the inquiry into the bank’s affairs following the revelation that former chairman Seán FitzPatrick had hidden loans from the bank over eight years, funded by short-term borrowings from Irish Nationwide Building Society.

Mr Appleby said the investigation was proceeding with the nationalised bank’s co-operation but could still take some months to complete. “We have acquired a lot of documents which are still being examined. It is going to take a bit of time. There is a lot of work involved and we are advancing it as quickly as we can,” he said.

“It has to be done right. That is the one requirement we have to work with and there is no point in rushing something and have it dismissed by the Director of Public Prosecutions or ultimately if he decides to move it on, have it thrown out by the court.”

Mr Appleby said the Office of the Director of Corporate Enforcement (ODCE) was collecting information for evidence.

“There is a long way from gathering evidence to actually assessing whether that evidence is good enough to refer that matter to the Director of Public Prosecutions and it will take some time until we are in a position to make that judgment.”

In February, ODCE officials secured search warrants from the District Court to enter Anglo’s premises at Stephen’s Green and Lower Baggot Street in Dublin.

“We have a lot of information and I am happy with the quality of the information available. We are certainly in the reasonably early stages of converting the information into admissible evidence.”

Mr Appleby said the investigation was one of the most complicated his office had conducted.