Irish financier in fraud inquiry

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A senior Irish financial industry figure has been arrested in connection with alleged financial irregularities.

The man in his 60s was arrested on Thursday by detectives from the Garda Bureau of Fraud Investigation.

Following the arrest, Finance Minister Brian Lenihan said he had "always stated there is an extensive Garda investigation under way".

"I have been cautious not to prejudice that investigation and am eager to see justice take its course," he added.

The man was arrested at his home in Greystones, County Wicklow, and his house was also searched.

He is being questioned at Bray Garda Station.