Courts / Dublin / Report
Former Anglo CEO denies involvement in €7.2bn conspiracy
Summary
David Drumm, aged 51 and former chief executive of Anglo Irish Bank, pleaded not guilty to charges of conspiracy to defraud and false accounting. He is accused of colluding with others to mislead depositors and investors by presenting a false impression that 2008 deposits were €7.2 billion larger than they actually were. The court heard that Drumm allegedly provided misleading information to the market on 3 December 2008, creating the impression of a €7.2 billion deposit surplus. A specially enlarged jury of 15 was sworn in at Dublin Circuit Criminal Court to try the case. Drumm denied all allegations, stating he did not conspire with Denis Casey, William McAteer, John Bowe or others, nor did he furnish false information to the market in September 2008. The trial is scheduled to continue after a brief adjournment.
Who, what, where, when and why
What: Report matter: Former Anglo CEO denies involvement in €7.2bn conspiracy. Charges or matters: being involved in an alleged €7.2bn conspiracy to defraud and to dishonestly providing false information to the market; conspiring with others to defraud depositors and investors by "dishonestly" creating the false impression that deposits in 2008 were €7.2 billion larger than they were. Procedural stage: trial
When:
- December 3, 2008 Hearing Or Sentence
- September 2008 Other
- 2018-01-10 Publication
Why: A specially enlarged jury of 15 jurors was sworn in today at Dublin Circuit Criminal Court in order to try him. CNI source report
Case subjects
Accused
Charges: being involved in an alleged €7.2bn conspiracy to defraud and to dishonestly providing false information to the market; conspiring with others to defraud depositors and investors by "dishonestly" creating the false impression that deposits in 2008 were €7.2 billion larger than they were (Alleged Or Contested)
Plea: Not guilty
Outcome: Judge O'Connor adjourned the case until tomorrow at 10am, again reminding jurors not to carry out any research on the case.
Places mentioned
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