Courts / Dublin / Report
Jury deliberating in Drumm trial
Summary
The Dublin Circuit Court jury in the trial of former Anglo Irish Bank chief executive David Drumm was sent home after deliberating for just over an hour. The jury, consisting of nine men and three women, returned to court later that day to hear a recorded phone call between Drumm and former Anglo treasury director John Bowe from late September 2008. Bowe is named as an alleged co‑conspirator in Drumm's indictment. The State alleges that Drumm conspired with former Irish Life & Permanent CEO Denis Casey, former Anglo financial director Willie McAteer, Bowe and others to carry out €7.2 bn in fraudulent transactions to inflate the bank's deposit figures. Drumm's lawyers admit the transactions occurred but dispute their fraudulent nature. Judge Karen O'Connor reminded the jury that Drumm pleaded not guilty and is presumed innocent, and that they must consider each count separately. The jury will return tomorrow at 2 pm for further deliberations.
Who, what, where, when and why
What: Report matter: Jury deliberating in Drumm trial. 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 2008 Hearing Or Sentence
- December 3, 2008 Other
- 2018-05-29 Publication
Why: 2bn in fraudulent transactions in order to bolster the customer deposits figure on the bank's balance sheet. 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
Topics
Related court reports
- Man charged with having 56k child abuse images and videos remanded on bail
- Ex-Dáil hopeful's allegations against former employer 'complete fantasy', WRC told
- Mater must pay €10k to worker who said he was wrongly accused of abusing patient
- 'I think we know I won't be getting bail' - Daniel Kinahan charged with directing criminal organisation
- Letting agent who claimed alleged domestic violence victim abandoned tenancy by fleeing to refuge must pay €14.7k
- 77-year-old with 470 convictions told Luas staff to 'f**k off'
If a fact, identity, locality or legal outcome needs review, email the newsroom with this report's details prefilled.
Email a correction request