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Prosecution to conclude evidence in Drumm trial next week
Summary
The jury in the conspiracy to defraud trial of David Drumm, a 51‑year‑old from Skerries, Co. Dublin, has been informed that the prosecution will finish presenting its evidence next week. Judge Karen O'Connor noted that the case is at day 72 of hearing and is approaching its conclusion. Drumm has pleaded not guilty to conspiring with former Anglo Irish Bank officials Denis Casey, William McAteer, John Bowe and others to defraud depositors and investors by falsely presenting 2008 deposits as €7.2 billion larger than they were. He also pleaded not guilty to false accounting at the Dublin Circuit Criminal Court. The prosecution read a witness statement from Lorraine Hanrahan, who confirmed her awareness of September and October 2008 transactions between Irish Life Investment Managers and Anglo Irish Bank, and described the transactions as non‑standard and unusually large. The jury was reminded not to conduct independent research and will return on Monday for further evidence.
Who, what, where, when and why
What: Report matter: Prosecution to conclude evidence in Drumm trial next week. 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:
- December 3, 2008 Hearing Or Sentence
- October 2008 Other
- 2018-05-10 Publication
Why: Ms Hanrahan told gardaí that these transactions were "non-standard" because of the amounts involved and that it was not normal for Permanent TSB to have acted as an agent for ILIM in the deals. CNI source report
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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