The Central Bank of Ireland has concluded a long-running inquiry into the Irish Nationwide Building Society (INBS), resulting in significant penalties for former executives. John Stanley Purcell, a former board member, has been fined €130,000 and banned from the financial sector for four years due to his role in the society's governance and risk management failures. The inquiry highlighted a period between 2004 and 2008 where INBS's commercial lending practices were found to be lacking in oversight and adherence to financial regulations.

During the years under scrutiny, INBS's commercial loan book expanded dramatically from €3.59bn to €8.18bn, with commercial loans making up 78% of its total loan book by the end of 2008. The Central Bank's report detailed a culture of high-risk lending, where large sums were disbursed without proper documentation, adequate security, or necessary approvals. This reckless approach to lending was a significant factor in the society's eventual collapse during the financial crisis.

The inquiry also shed light on the broader systemic failures within INBS, including a lack of adherence to its own credit risk management policies and the absence of annual credit risk stress tests for commercial lending. Louise Gallagher, the Central Bank's head of enforcement investigations, emphasized the discovery of a pervasive culture that prioritized high-risk lending over sound financial practices. The findings underscore the importance of robust governance and risk management frameworks in financial institutions.

In addition to the penalties imposed on Purcell, the Central Bank's inquiry has led to settlements with other former INBS executives, including disqualifications and fines. The total cost of the investigation and inquiry into INBS's regulatory breaches amounted to over €24m, spanning 15 years from 2010 to 2025. This case serves as a stark reminder of the consequences of failing to uphold financial regulations and the critical need for accountability in the banking sector.

London's Metropolitan Police have launched a murder investigation following the death of an 85-year-old man who was allegedly assaulted by a fellow patient at Charing Cross Hospital in Hammersmith. Andrew Farmer, from Ealing in west London, sustained serious injuries during the incident on September 18 and died a week later on September 25, according to police statements released Wednesday.

The investigation centers around an altercation between two patients at the west London hospital, with authorities confirming that 70-year-old Anatoliy Podmazko, of no fixed address, was arrested at the scene and subsequently charged with grievous bodily harm on September 20. Podmazko is scheduled to appear at Isleworth Crown Court on October 17 as the case progresses from initial charges to a full murder investigation.

Detective Inspector Kirsten Hadleigh, who is leading the investigation, emphasized the sensitivity of the case, stating: "Our thoughts remain with Andrew's family and friends at this undoubtedly difficult time. We remain in close contact with Andrew's loved ones and are keeping them up to date with the progress of our investigation." The police continue to make enquiries into the circumstances surrounding the alleged assault and subsequent death.

Andrew Farmer's partner of 60 years, Paul Wrigley, paid tribute to the deceased, describing him as "my partner through thick and thin for 60 years" and noting his academic achievements as "an Oxford First" who had deep interests in opera, Devon topography, and helping the underprivileged. Wrigley remembered Farmer as "scholarly but with a wry sense of humor" in a statement released through the Metropolitan Police, concluding with "Rest now, my dear friend."