David Drumm convicted of fraud and false accounting

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

David Drumm was convicted of conspiracy to defraud and false accounting at the Circuit Criminal Court, reported on 6 June 2018.

The jury found that he knowingly used €7.2 billion in circular transactions to mislead investors about Anglo Irish Bank’s financial position.

The convictions followed a trial concerning transactions between Anglo, Irish Life and Permanent, and Irish Life Assurance.

Sentencing had not yet taken place, and the source reported that Drumm remained on bail pending the court’s decision.