Courts / Dublin / Report

"We have a big funny with Permo": conspiracy trial hears more taped Anglo calls

Summary

In a trial at Dublin Circuit Criminal Court, four former Anglo Irish Bank and Irish Life & Permanent executives—John Bowe, Willie McAteer, Denis Casey and Peter Fitzpatrick—were charged with conspiring to mislead investors by arranging a €7.2 billion circular transaction scheme between March 1 and September 30 2008. Bowe, a 52‑year‑old Glasnevin resident, testified that the scheme involved depositing money into ILP, which would then transfer it to Irish Life and back to Anglo, creating a "circle" that was difficult to unwind. He described the €7.2 billion deal as a "big funny" to chairman Sean FitzPatrick and claimed the deposits were legitimate and carried normal risks. Bowe denied any intent to misrepresent Anglo's year‑end position. The case is ongoing before Judge Martin Nolan and a jury, with evidence including recorded telephone calls and Garda interviews. Denis Casey pleaded not guilty. Peter Fitzpatrick pleaded not guilty.

Who, what, where, when and why

What: Report matter: "We have a big funny with Permo": conspiracy trial hears more taped Anglo calls. Charges or matters: conspiring together and with others to mislead investors through financial transactions between March 1st and September 30th, 2008. Procedural stage: trial

When:

• March 1st Hearing Or Sentence
• September 30th, 2008 Hearing Or Sentence
• June 2012 Other
• September 29, 2008 Other
• September 30, 2008 Other
• 2016-04-28 Publication

Case subjects

Places mentioned

Topics

Stage Trial

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Read the original CNI report