Probe into £56m AIB fraud claim
The Serious Fraud Office yesterday launched an investigation into a £56million alleged fraud against Allied Irish Banks.
Other financial institutions were also victims of the scam, said the SFO.
Police said the main suspect controlled companies which borrowed from AIB between 2003 and 2007. Guarantees from a leading property company to support the loans were allegedly fraudulent.
AIB is considering legal action against several parties.
Police have raided three addresses.