An investigation into past spending at the Anglo Irish Bank by new management has discovered that $278,000 was spent on golf balls and $291,000 on golf umbrellas over a three-year period.
In Ireland this week, management is trying to account for each ball and umbrella.
Initially they thought the figures were “bogey” but soon discovered them to be true.
Management is having difficulty locating the items.
Maybe they were swooped away by a “birdie” or “eagle.”
115,000 golf balls are missing from the 125,000 purchased. Management are not happy .
It is believed that Mike Aynsley, chief executive of the bank, will not rest until each of the balls are returned.
And it doesn’t “lay-up” there.
Further investigation shows that the bank spent a lot more in total on the game of golf.
The money was mostly spent on golf items and events.
Much of this spending occurred during the boom in Ireland.
Between 2005 and 2008 Clients were flown (on private jets) from “fairway” places to play on Ireland top courses.
The bank hosted several golf events in an effort to “par-tee” new clients for their business.
The Irish Times reports that Anglo spent €100,000 on golf rain clothing, €66,000 on sports bags, €24,000 on golf bags and €23,000 on golf “wind-tops”.
Some €33,000 was spent on jumpers, €31,000 on polo shirts and €7,000 on T-shirts.
The investigation also revels that a further €155,000 went on “miscellaneous” golf expenditure, while €59,000 was spent on events relating to the Ryder Cup, which was held at the K Club in Co Kildare in September 2006.
Some €103,000 was spent on annual golf days over three years.
But the good news is, Anglo still has 600 baseball caps, 2,000 umbrellas and 300-branded hand-stress balls.