FitzPatrick qualified as a chartered accountant, and was appointed as Chief Executive of Anglo Irish Bank in 1986.
The business prospered and the economic boom in Ireland ensured strong profitability for Anglo Irish, and it was valued at EUR€13 billion.
In 1998 the then Minister for the Environment and Local Government Noel Dempsey appointed FitzPatrick to the Dublin Docklands Development Authority where he served until 2007.
[8] FitzPatrick was also appointed a non-executive director to the Irish airline Aer Lingus in March 2004[9] by the prominent Fianna Fáil politician and then Minister for Transport Séamus Brennan.
[11] While saying he was grateful for the state's help, he refused to offer taxpayers an apology, saying, "The cause of our problems are global, so I can't say sorry with any degree of sincerity and decency.
"[12] FitzPatrick addressed the government in another speech on the same day and recommended cutting spending on what he called the "sacred cows" of Irish society: children, the elderly and health care.
FitzPatrick, while Anglo Irish chairman, had borrowed more than €100 million from the bank and hid the loans from auditors for eight years.
The former multi-millionaire banker defaulted on the loans following a series of major business setbacks, valuable shareholding in Anglo Irish Bank once worth €80 million is now worthless followed by a failed oil venture in Africa and a stake in a casino in Asia stalled.
[22] FitzPatrick was arrested at around 06:30 on 18 March 2010 at his house in Greystones, County Wicklow, by the Garda Bureau of Fraud Investigation.
[22] The Gardaí confirmed in a statement that "There is an extensive Garda investigation under way, eager to see justice take its course" In most western countries it is illegal to run a business and seek investment while insolvent.
[30][31] He was charged with 16 offences by Gardaí attached to the Office of the Director of Corporate Enforcement relating to his role in advising on and lending millions to a golden circle of investors to inflate, falsely, Anglo's share price.
[32] After the ODCE's investigation methods were found to be flawed, on 23 May 2017 the judge in FitzPatrick's trial directed that he be acquitted of all charges.