No further action is expected to be taken by British police against Mr Timothy McHale, the retired bank manager who customers say "interfered with" their accounts in London. Allied Irish Banks, which is believed to have paid out some £800,000 to put matters right, indicated last night that it regards the case as closed.
A spokeswoman for the bank confirmed that Mr McHale, who now lives in Co Clare, used to work for AIB in London "until his retirement in normal course at the age of 61 in 1989".
It was not until five years later, according to AIB, that "allegations of impropriety" were made against him.
"An immediate and thorough investigation was initiated. The relevant authorities were informed," the bank said. "This investigation established that a small number of customers' accounts had been interfered with."
AIB moved to contact these account-holders and took steps to rectify the situation. It is believed the bank pursued Mr McHale vigorously and eventually settled the matter. The customers are also said to be satisfied by the measures taken by the bank.
Given that some form of settlement was reached, and that no new allegations appear to have been made, a prosecution now seems unlikely. The Metropolitan Police fraud squad is not expected to bring any case against Mr McHale.
A British newspaper at the weekend described Mr McHale as leading a "flamboyant" lifestyle in London, and said he owned a wine bar and an apartment worth £400,000 in the city. He was also reported to have gambled heavily at casinos and with bookmakers.
When he retired, according to reports, Mr McHale treated staff at his bank branch to a £80-a-head dinner at a West End brasserie. Brian McLaughlin in Lahinch writes: The curtains were drawn in the bungalow home of Mr McHale on the outskirts of Lahinch, Co Clare, yesterday. There was no reply at the door.
The dormer bungalow, valued at £200,000, is midway between Lahinch and Liscannor and overlooks Lahinch golf course.
Mr McHale is a prominent member of the club, which was founded in 1892, and his name as club captain in 1990 hangs on the clubhouse foyer wall, along with the names of other captains going back to 1893. A picture shows him presenting a trophy to the Irish professional and Ryder Cup player Darren Clarke.
Mr McHale's whereabouts were not known yesterday, but it was said at the club that he was in London at a funeral and would not be back until Friday.
Prominent club members, when contacted, said that in the circumstances they would prefer to make no comment on the matter.
The Mail on Sunday first made the allegations against Mr McHale at the weekend and, when contacted by that paper, he said: "I don't know what you are talking about. I deny these allegations completely."
Mr McHale, who is a native of Co Leitrim, was introduced to the Lahinch club by the late Mr Michael Clancy, a Clare man who became a wealthy industrialist in Britain and who also introduced the television personality Terry Wogan to the club at the same time. He was responsible for introducing many of the overseas life members, including bankers.
According to club sources, he was very successful and served as a member of of the club committee.
Now 69, he is married with one son and two daughters.