David Drumm pleads guilty to unlawful bank-share loans

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

David Drumm pleaded guilty to 10 counts of unlawfully helping finance bank-share purchases at Dublin Circuit Criminal Court, with sentencing listed for 10 July 2018.

The charges concerned loans arranged for the Maple Ten group to buy Anglo Irish Bank shares between 10 and 17 July 2008. Defence counsel said Drumm had been trying to resolve financial problems created by Sean Quinn’s secret share position, while the prosecution case described the scheme as unlawful financial assistance.

Judge Karen O’Connor adjourned the matter after hearing evidence about the offending and mitigation.