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"I'd like about five billion before the 30th": Drumm trial hears of plan to "get a bit of drink into" Credit Suisse banker
Summary
During day 36 of David Drumm's conspiracy‑to‑defraud trial, the jury heard an extract from a September 2008 phone call between former Anglo Irish Bank CFO Matt Moran and former Anglo head of capital markets John Bowe. The men discussed how to persuade Credit Suisse banker Ewen Stevenson to sign a "beer mat" and to facilitate a transaction that would move €7.2 billion in Anglo's favour. Moran said he would try to "get a bit of drink into him" and then say, "I'd like about five billion before the 30th." Bowe suggested they could "get him to sign the beer mat" and that Anglo would place money with Credit Suisse, possibly using a single set of cash. The conversation was recorded by the bank, and Moran confirmed that the transaction had not yet taken place. The trial continues before Judge Karen O'Connor and a jury. Credit Suisse pleaded not guilty.
Who, what, where, when and why
What: Report matter: "I'd like about five billion before the 30th": Drumm trial hears of plan to "get a bit of drink into" Credit Suisse banker. Charges or matters: conspiring with former bank officials Denis Casey, William McAteer, John Bowe and others to defraud depositors and investors at Anglo by "dishonestly" creating the impression that deposits in 2008 were €7.2 billion larger than they were; false accounting on December 3, 2008, by furnishing information to the market that Anglo's 2008 deposits were €7.2 billion larger than they were. Procedural stage: trial
When:
- September 22, 2008 Hearing Or Sentence
- November 12 2008 Other
- September 2008 Other
- December 3, 2008 Hearing Or Sentence
- 2018-03-08 Publication
Case subjects
Defendant
Charges: conspiring with former bank officials Denis Casey, William McAteer, John Bowe and others to defraud depositors and investors at Anglo by "dishonestly" creating the impression that deposits in 2008 were €7.2 billion larger than they were; false accounting on December 3, 2008, by furnishing information to the market that Anglo's 2008 deposits were €7.2 billion larger than they were (Alleged Or Contested)
Plea: Not guilty
Places mentioned
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