David Drumm admits transactions in false accounting trial

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

David Drumm admitted authorising transactions at the centre of a conspiracy to defraud and false accounting trial at Dublin Circuit Criminal Court, reported on 9 February 2018. He pleaded not guilty to both charges and disputed that the transactions were fraudulent, dishonest or dishonestly reported.

The court was told the transactions made Anglo Irish Bank’s deposits appear €7.2bn larger than they were. Drumm’s lawyers accepted the factual mechanics of transactions involving Anglo, Irish Life & Permanent and Irish Life Assurance, while disputing the prosecution’s characterisation of them as dishonest.