High Court extends suspension of north Dublin credit union manager

Three separate investigations are underway

High Court extends suspension of north Dublin credit union manager

File photo | Image: RollingNews.ie

The High Court has extended the suspension of the manager of a credit union at the centre of a Central Bank investigation into alleged fraud.

Anne Butterly will not be allowed to take up any management position in any financial services firm for another three months.

Three separate investigations are underway into an alleged fraud at Rush Credit Union in north Dublin.

It is believed €1.2m is missing from the branch, but it is not yet known who is responsible or where the money went.

Ms Butterly, who held a management position at the credit union, was suspended on full pay in March.

In June, the Central Bank then suspended her from acting in any management role in a financial institution as part of its own investigation.

That was due to expire next week but the High Court has agreed to extend it by another three months after Ms Justice Marie Baker heard it was needed to protect the users of financial services.

Nuala Butler, who is acting for the Central Bank, said additional concerns had come to light - some of which were quite serious, and more time was needed to investigate.

Ms. Butterly was not present today. The court heard she in hospital after having a serious accident.