Courts / Dublin / Report

Jury told it can return majority verdict in trial of former ILP bankers

Summary

The jury in the trial of former Irish Life & Permanent executives has been informed that it may return a majority verdict. After 44 hours and 26 minutes of deliberation over eleven days, Judge Martin Nolan announced that a verdict agreed to by ten of the eleven jurors would be acceptable, a change from the previous requirement for unanimity. The jury had already convicted Anglo's former head of capital markets, John Bowe (52), and the bank's former finance director, Willie McAteer (65), for conspiring to mislead investors, depositors and lenders about Anglo's financial health. They were remanded on bail pending sentencing until 25 July. The jury has not yet returned verdicts in the cases of former ILP chief executive Denis Casey (56) and finance director Peter Fitzpatrick (63), who are accused of conspiring to mislead investors through a €7.2 billion circular transaction scheme in 2008. The trial, now on day 86, remains the longest criminal trial in Irish history. Denis Casey pleaded not guilty. Peter Fitzpatrick pleaded not guilty.

Who, what, where, when and why

What: Report matter: Jury told it can return majority verdict in trial of former ILP bankers. Charges or matters: conspiring together and with others to mislead investors by setting up a €7.2 billion circular transaction scheme between March 1 and September 30, 2008 to bolster Anglo's balance sheet. Procedural stage: trial

When:

• July 25th Adjournment
• March 1 Hearing Or Sentence
• September 30, 2008 Hearing Or Sentence
• 2016-06-03 Publication

Case subjects

Places mentioned

Topics

Stage Trial

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Read the original CNI report