Key Irish figures in the Anglo Irish Bank banking scandal may face arrest as police close in on vital evidence.

Police have stated their enquiries will be complete within a few weeks or so, and a file will then be sent to the Director of Public Prosecutions.

"We are now entering a critical phase in our inquiries after a huge trawl through the documentation and computer files seized from the bank last year, "a senior police source told the Irish Independent.

The police investigation is focused on the movement of $10 billion dollars in deposits between Anglo Irish and a savings and loan company called Irish Life amid allegations that the transactions were concealed from shareholders by former Anglo chairman Sean Fitzpatrick.

The main probe is also focused on Sean Fitzpatrick and $700 million in loans made to a 'golden circle' of friends to buy bank shares that have not been repaid.

The police fraud squad has been deeply involved in tracing those loans and has recently been beefed up.

Hundreds of witnesses have been interviewed including some from overseas.

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