DUBLIN: The former chief executive of the failed Anglo Irish Bank, David Drumm, was found guilty of conspiring to defraud depositors and investors during a banking crisis that crippled Ireland’s economy a decade ago.
Drumm, 51, had pleaded not guilty to charges of dishonestly creating the impression that deposits at the lender were 7.2 billion euros larger than they actually were in 2008 when the country’s banks began to get into trouble. The bank has since collapsed.
He was also found guilty of false accounting, a second charge he had denied, and was released on bail pending sentencing on June 20.
“The verdict today is the culmination of an investigation that commenced over nine years ago,” Detective Superintendent Gerard Walsh told reporters outside the court, describing it as one the most complex undertaken involving the analysis of tens of thousands of telephone calls and almost one million files. — Reuters
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