David Drumm pleads not guilty to fraud and false accounting

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

David Drumm pleaded not guilty to conspiracy to defraud and false accounting. His trial was continuing at Dublin Circuit Criminal Court before Judge Karen O’Connor and a jury. The proceedings were reported on 21 February 2018.

The conspiracy charge alleged that Drumm and former Anglo Irish Bank officials Denis Casey, William McAteer, John Bowe and others dishonestly created the impression that the bank’s deposits in 2008 were €7.2 billion larger than they were. The false accounting charge concerned information furnished to the market on 3 December 2008 that allegedly overstated the deposits by the same amount.

Former Anglo company secretary Natasha Mercer told the trial that she amended audit committee minutes to refer to a transaction with Irish Life and Permanent after bank executives asked her to. She agreed with defence counsel that chairman Donal O’Connor had conveyed his and two other executives’ recollection that the matter had been discussed.

Mercer said she checked her handwritten notes, was satisfied the transaction had been discussed and included it in the final minutes. She also said she had not felt under pressure from O’Connor and that his tone was cordial.

On 20 February 2018, a juror was released because she was acquainted with someone mentioned during the proceedings. The trial continued with ten men and four women on the jury.