David Drumm named in alleged €7.2bn investor deception trial

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

David Drumm was named in evidence about alleged investor deception at the Circuit Criminal Court on 20 January 2016, when the trial began. The prosecution alleges four former bankers conspired to make Anglo Irish Bank appear €7.2 billion more valuable through financial transactions.

A former Anglo Treasury manager testified that Drumm knew about a €750 million transaction involving Irish Life and Permanent and later approved further funding arrangements. The four accused have pleaded not guilty to charges of conspiring to mislead investors; the allegations have not been determined.