Willie McAteer with an address at Greenrath, Tipperary Town and Pat Whelan of Coast Road, Malahide were arrested in Dublin city centre this morning.
63 year old Willie McAteer used to be the Finance Director at Anglo Irish Bank, while his co-accused 53-year-old Pat Whelan worked as Anglo's director of lending in Ireland.
Both men were arrested after they were asked to meet with Gardaí at the Bridewell Garda Station in Dublin this morning.
The court heard they're each facing one charge of fraud under the Companies Act.
Mr. McAteer, with an address of Greenrath, Tipperary Town, is accused of fraudently obtaining a loan for over 8.2 million euro from Anglo to pay off a personal loan with Bank of Ireland in September 2008.
In doing so, he caused a gain to himself and a loss to the bank, the charge reads.
Mr. Whelan is accused of being a party to that loan.
Both men were granted bail today after the court approved two independent sureties for 10,000 euro each.
They're due back in court in November.
