Denis Casey awaits verdict in €7.2bn conspiracy trial

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

Denis Casey was still awaiting the jury’s verdict in the €7.2 billion conspiracy case at the Criminal Court of Justice. He was the former group chief executive of Irish Life and Permanent. The proceedings were reported on 3 June 2016. The jury was to resume deliberations concerning him on Tuesday.

The charge against Denis Casey, Peter Fitzpatrick, Willie McAteer and John Bowe concerned an alleged conspiracy involving others to deceive investors. It involved circular transactions worth €7.2 billion between 1 March and 30 September 2008, allegedly designed to strengthen the appearance of Anglo Irish Bank’s balance sheet. They had each pleaded not guilty.

Denis Casey and Peter Fitzpatrick said they had not known how Anglo Irish Bank would account for certain transactions made with it in 2008. The prosecution maintained that they must have known.

Peter Fitzpatrick was acquitted on 3 June 2016. Judge Martin Nolan told him he could leave. That morning, the judge had permitted the eleven-member jury to deliver a majority verdict, with at least ten jurors agreeing.

Willie McAteer and John Bowe had been convicted of the same conspiracy charge on 1 June 2016. On 3 June 2016, Judge Martin Nolan continued their bail and scheduled their sentencing hearing for 25 July 2016.