Sean Quinn sets the record straight

Explosive book to be launched this week

After several decades at the centre of Irish business, Sean Quinn has provided a personal insight into his life with his new memoir ‘In My Own Words’. Speaking to The Anglo-Celt this week ahead of his book launch, the former billionaire says that he believes it is something he owes to his family, staff, community, and loyal supporters who stood by him during challenging times.

“Recently I’ve been getting both persecuted by people advising me and criticising me, but it has been a joyful couple of weeks. We’re getting a lot of encouragement and support from people who are very annoyed about what was done me. I’m very relieved to have signed off on the book after spending a year and a half on it.

“I finished school at fifteen so writing books isn’t something I’m used to. It is important that my side of the story is told. There’s a lot of local people who wonder what happened and they have been reading a certain narrative of events for years and it is not the real story, so I’m happy to have put that out there.”

Once estimated to be worth up to €4.5 billion, Sean gambled on contracts for difference shares in Anglo Irish Bank before its collapse during the crash. It eventually led to him losing control of his businesses formerly under the Quinn Group umbrella.

For Sean writing the book was difficult but the final product makes it worthwhile.

“I hated the process. I employed over 7,000 people and none of the years were as hard as the last year writing that book. Every part I wrote contained something about betrayal, as well as the businesses we had and lost. It wasn’t nice doing it but it’s lovely to have it done. I’m not one bit worried about people who don’t believe me. The people who are anti-Quinn won’t believe anything I say.

“Ninety per cent of what’s in the book is factual, if they want to leave out my opinion that’s fine, but the rest can’t be argued with, it’s based on court documents, Central Bank figures, and administrator figures. If they want to leave out my view that’s fine, but then they can just read the facts.”

Sean also says the book will be an important reference point for his family.

“If someone turns around to my grandchildren in time to come and says ‘my family paid an extra two per cent on their car insurance because of your grandfather’, then they can say ‘no they didn’t, my grandfather would have sold it for 20% cheaper if the business hadn’t been taken from him.’”

He points readers to chapter eight where he quotes some of the highest reserves in the industry and claims the best insurance company in the country.

Asked if he has any regrets over his time in business, Sean isn’t hesitant to outline things he would do differently if he had the chance to do it again.

“Not replacing David Mackey with a senior chief executive of Quinn Group is something I’d do differently. Buying too many shares in Anglo Irish Bank was a major mistake but, at the end of the day, we were still a very well-financed company. What brought us down wasn’t the shares that I bought, but was that Anglo, with the help of the Irish government, financed shares to tune of 2.34 billion in my kids’ names... and put me out of business and put in new boards on the condition that they couldn’t sue Anglo.”

He added: “They took all our money and then took businesses off us that weren’t part of the group - assets in India, Russia and Ukraine.”

When asked if he feels if the book acts as an apology for anyone, Sean says the blame lies squarely at his own feet.

“It was me who was a strong advocate for buying the Anglo-Irish shares, I take all the blame for that. I’m not trying to blame anyone else, my position is set out in the book.

“The OECD got the Gardaí to investigate my family, and they finished up with a 100% clean bill of health and said we had no hand act or part in any of the administration of the company,” he continued.

“They brought me in as a witness for the prosecution against Anglo-Irish Bank on behalf of the State, proving we had no involvement and that we were the victims.”

When asked if he had any political ambitions, Sean is quick to state his position: “I never even thought about it, even for 10 seconds, that wouldn’t be my scene at all.”

Sean says he also has no major ambitions for the near future.

“My father died at 65 and I thought he was an old man. I think I’m still capable of doing some things. If I continue to have the health I have for another five or six years, I’ll be happy enough. I haven’t done a lot for the last 10 years so I’m not going to start doing things now.

A good few people still call to the house looking for advice from me, I’m more than happy to continue doing that.

“My time is short, I wanted to clear the record, I’ve lived a good life, I was always an honest man and looked after suppliers, staff, and customers, and got great support.”