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Trial of bankers accused of €7.2 billion conspiracy in legal argument

Summary

The trial of five senior bankers accused of conspiring to mislead investors by making Anglo Irish Bank appear €7.2 billion more valuable than it was between March 1st and September 30th, 2008, has entered legal argument and will continue until Thursday. The accused include William McAteer, Denis Casey, Willie McAteer, Peter Fitzpatrick, and John Bowe, who have all pleaded not guilty to the charges of conspiring together and with others to mislead investors through financial transactions. The trial is ongoing at Dublin Circuit Criminal Court. On day nine of the trial, the State's first witness, Matt Cullen, a former director of treasury at Anglo, completed his direct evidence and was cross-examined by Diarmaid McGuinness SC, defending John Bowe. Legal disputes regarding the admissibility of certain evidence arose, prompting Judge Martin Nolan to ask the jury to leave the courtroom temporarily. The jury was instructed to return on Thursday. The trial is in the validated procedural stage of trial, with no findings, sentences, or finalisations yet determined.

Who, what, where, when and why

What: Report matter: Trial of bankers accused of €7.2 billion conspiracy in legal argument. Charges or matters: conspiring together and with others to mislead investors through financial transactions to make the bank appear €7.2 billion more valuable that it was between March 1st and September 30th, 2008; conspiring to mislead investors. Procedural stage: trial

When:

• March 1st Hearing Or Sentence
• September 30th, 2008 Hearing Or Sentence
• March 17 Other
• 2016-02-01 Publication

Why: Patrick's Day Massacre because of dips in the value of shares – he was present at a meeting in former Anglo Irish Bank Ceo David Drumm's office. CNI source report

Case subjects

Places mentioned

Topics

Stage Trial

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Read the original CNI report