Courts / Dublin / Report
Jury in trial of four former bankers sent home following second full day of deliberations
Summary
The jury in the trial of four former Anglo Irish Bank and Irish Life & Permanent executives, accused of conspiracy to defraud in 2008, was sent home after a second full day of deliberations. The defendants—Denis Casey (56), John Bowe (52), Willie McAteer (65) and Peter Fitzpatrick (63)—had pleaded not guilty to charges that they conspired to mislead investors by setting up a €7.2 billion circular transaction scheme between 1 March and 30 September 2008. The scheme allegedly involved Anglo lending money to ILP, which then returned the money via Irish Life Assurance, treating the deposits as customer deposits to inflate Anglo's balance sheet from €44 billion to €51 billion. The prosecution argued the scheme was designed to mislead readers of Anglo's accounts, while the defence maintained the deposits were real, correctly accounted for, and that the defendants had no intention to mislead the public.
Who, what, where, when and why
What: Report matter: Jury in trial of four former bankers sent home following second full day of deliberations. 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
- December 3rd 2008 Other
- 2016-05-19 Publication
Case subjects
Defendant
Charges: 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 (Alleged Or Contested)
Plea: Not guilty
Places mentioned
- Dublin
- Tipperary Town
- Tipperary
- Convent Lane
- Portmarnock
- Dublin
- Dublin Circuit Criminal Court
Topics
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