Juror excused in Anglo trial

Juror excused in Anglo trial

A man has been excused from serving on the jury in the ongoing trial of four former executives from Anglo Irish Bank and Irish Life and Permanent (ILP).

On Day 41 of the trial relating to alleged market deception, a male juror handed a doctor's certificate to Judge Martin Nolan at Dublin Circuit Criminal Court and asked to be excused from the rest of the trial.

The trial began last January with a specially enlarged jury of 15 because it was scheduled to run for five months. It is on schedule to finish next month.

Another juror was excused very early on in the trial and with the latest absence the jury is now 13 strong.

At the end of the evidence only 12 members of this jury will take part in the deliberations.

The four accused are alleged to have conspired to mislead investors by setting up a €7.2bn circular transaction scheme to bolster Anglo's balance sheet in 2008.

Peter Fitzpatrick (aged 63) of Convent Lane, Portmarnock, Dublin, John Bowe (aged 52) from Glasnevin, Dublin, Willie McAteer (aged 65) of Greenrath, Tipperary Town, Co Tipperary and Denis Casey (aged 56), from Raheny, Dublin have all pleaded not guilty at Dublin Circuit Criminal Court to conspiring together and with others to mislead investors through financial transactions between March 1 and September 30, 2008.

On the first day of the trial after the Easter break, Kevin Kelly, head of financial reporting with Anglo in 2008, testified that the transactions were brought to the attention of the PWC accounting firm in October 2008 when they were brought in by the Government to review the books of all banks covered by the bank guarantee.

Mr Kelly said PWC included the transactions in a report to the Department of Finance and this report was consistent with his understanding of the transaction at the time.

He said the reporting of the transaction by Anglo’s auditors, Ernst & Young (EY), was also consistent with his understanding.

Mr Kelly said that in advance of the auditor’s report he and Colin Goldin, head of Finance with Anglo, drafted a list of matters for discussion that needed to be considered by the bank's Audit Committee.

He told Diarmaid McGuinness SC, defending Mr Bowe, Anglo's then head of capital markets, that this list was shared with Vincent Bergin, the chief auditor with EY.

He was asked by Judge Nolan if he was saying that the Audit Committee were made aware of the exact nature of the September transaction.

The witness replied that there was a section in the matters for discussion document that described the transactions.

He told Judge Nolan that if the committee members read that, they would be aware of the transactions.

The trial continues before Judge Nolan and a jury.

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