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Former Anglo executive was "open and frank" with regulator, defence tells jury

Summary

In a Dublin Circuit Criminal Court trial, former Anglo Irish Bank executive John Bowe, aged 52, was described by his defence counsel as "open and frank" with the Financial Regulator, claiming he believed no wrongdoing had occurred. The case involves Bowe and three other ex‑executives—Willie McAteer (65), Denis Casey (56) and Peter Fitzpatrick (63)—who are charged with conspiring to mislead investors through a €7.2 billion circular transaction scheme from 1 March to 30 September 2008. Defence lawyer Diarmaid McGuinness SC presented evidence that Bowe discussed the scheme with regulator Mary Elizabeth Donoghue in October 2008, describing the arrangement as "balance sheet dressing" or "window dressing" and stating it was not about liquidity. Denis Casey pleaded not guilty. Peter Fitzpatrick pleaded not guilty.

Who, what, where, when and why

What: Report matter: Former Anglo executive was "open and frank" with regulator, defence tells jury. Charges or matters: conspiring together and with others to mislead investors by setting up a €7.2 billion circular transaction scheme between March 1st and September 30th, 2008 to bolster Anglo's balance sheet. Procedural stage: trial

When:

• March 1st Hearing Or Sentence
• September 30th, 2008 Hearing Or Sentence
• October 2008 Other
• September 30, 2008 Other
• 2016-05-12 Publication

Why: Photo: Collins) A former Anglo Irish Bank executive accused of conspiracy to defraud was "open and frank" with the Financial Regulator because he didn't believe anything wrong had been done, a court has heard. CNI source report

Case subjects

Places mentioned

Topics

Stage Trial

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Read the original CNI report