Quinn puts hands up over "fatal" Anglo decision

QUINN COUNTRY

Seán Quinn described his mammoth investments in Anglo Irish Bank share options as a "fatal" decision.

The Ballyconnell former business tycoon accepted his decisions regarding the bank contributed to the collapse of his empire, which had been built up over decades and been such a boon to both his native Fermanagh and adopted home of Cavan. The decisions eventually led to his bankruptcy.

Mr Quinn made the admission in the second instalment of a trio of fascinating RTÉ programmes which aired last night. The final episode will be screened tonight.

He acknowledged of his decision to increase his stake in Anglo Irish: "maybe our system was a bit week" adding, "maybe I was in too dominant a position and when I asked for it to be done, it was done".

"I made a lot of awful good decisions in my 40-odd years of business, but that was one bad one, one fatal one," he said.

Mr Quinn's doubling down on his investments in Anglo Irish Bank, even during the financial crash, saw the bank ultimately nationalised.

The documentary has candid interviews with Seán Quinn in which he admits a number of mistakes and fascinating archive footage including of a Quinn Insurance company bash.

Episode 3 of Quinn Country will be broadcast at 9:35pm on RTÉ One tonight.