Courts / Dublin / Report
Jury in trial of four former bankers to return Monday following 13 hours of deliberations
Summary
The jury in the trial of four former Anglo Irish Bank and Irish Life & Permanent executives has been sent home after a third day of deliberations. The defendants – John Bowe, Willie McAteer, Denis Casey and Peter Fitzpatrick – are accused of conspiring to mislead investors about Anglo's financial health 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 rather than inter‑bank loans. The prosecution claims this inflated Anglo's customer deposits from €44 bn to €51 bn, a 16 % increase, thereby misleading readers of the bank's accounts. The defendants have pleaded not guilty, and their lawyers argue the deposits were legitimate and correctly accounted for, with no intent to defraud the public. The trial, the longest criminal case in Irish history, will resume on Monday.
Who, what, where, when and why
What: Report matter: Jury in trial of four former bankers to return Monday following 13 hours 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 Other
- September 30th, 2008 Other
- December 3rd 2008 Other
- 2016-05-20 Publication
Case subjects
Accused
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
- Dublin Circuit Criminal Court
- Dublin
- Tipperary Town
- Tipperary
- Convent Lane
- Portmarnock
Topics
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