DUBLIN (Reuters) - Ireland may bring charges within two months over suspected fraud at Anglo Irish Bank, in what would be the first fruits of a long-running probe into the defunct lender at the heart of Ireland's financial collapse, a court heard on Tuesday.
The investigation into events leading up to the nationalisation of the lender, including whether deposits were used to mask large withdrawals, has been running for three years and the government has been heavily criticised for the slow progress.
A lawyer for Director for Public Prosecutions Una Ni Raifeartaigh told Dublin's Commercial Court there were "five separate but interlinked" investigations, one of which is near completion, and charges could be brought within a month of two.
"One can understand why it (the probe) may seem long, when one considers the scale and novelty of it, the fact is it is novel and unprecedented," Ni Raifeartaigh said.
"There is a broad range of offences under consideration, some of which may never have been considered before in this jurisdiction and raise legal issues."
The court accepted a request by the director of corporate enforcement and the police to extend the investigation for a further six months due to the complexity of the matter. It will be back before the court on July 27.
Justice Peter Kelly said he was glad a previous decision not to bring charges until all five strands of the investigation had concluded was no longer "set in stone."
The delay in charging those responsible has frustrated Irish taxpayers who have pumped 63 billion euros (53 billion pounds) -- the equivalent of more than a third of the country's annual economic output -- into the banking sector to keep it afloat after a devastating property crash.
Anglo, the first Irish bank to be nationalised amid a string of scandals three years ago, has changed its name to Irish Bank Resolution Corp (IBRC) as it winds itself down over the next 10 years, having cost the state almost 30 billion euros.
(Reporting by Sarah O'Conn)


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