Courts / Dublin / Report

Legal argument in Anglo-ILP trial

Summary

The trial of four former Anglo Irish Bank bankers, including former finance head Willie McAteer (65) and former capital markets head John Bowe (52), continues with legal argument. They are accused of conspiring to mislead investors by using interbank loans to inflate the bank's 2008 balance sheet. The scheme allegedly involved transferring money from Anglo to Irish Life and Permanent (ILP) and then depositing it back with Anglo through ILP's life assurance division, making the deposits appear as corporate funding from a non‑banking entity. This would have increased the bank's corporate funding figure by €7.2 billion for the year‑end figures on 30 September 2008. Peter Fitzpatrick (63), former ILP finance director, former ILP CEO Denis Casey (56), McAteer, and Bowe have all pleaded not guilty. On day 48, lawyers presented a legal matter before Judge Martin Nolan without the jury; the trial will resume in evidence before the jury on Thursday morning.

Who, what, where, when and why

What: Report matter: Legal argument in Anglo-ILP trial. Charges or matters: conspiring to mislead investors. Procedural stage: trial

When:

• 30 September Hearing Or Sentence
• March 1st Hearing Or Sentence
• September 30th, 2008 Hearing Or Sentence
• 2016-04-13 Publication

Why: The transfer would allegedly appear as corporate deposits because they had come from the non-banking entity, Irish Life Assurance. CNI source report

Case subjects

Places mentioned

Topics

Stage Trial

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Read the original CNI report