Prosecution has not proven criminal intent, defence counsel tells Anglo trial

Prosecution has not proven criminal intent, defence counsel tells Anglo trial

Counsel for a former executive of Anglo Irish Bank claims the prosecution has not proven he had any criminal intent in an alleged conspiracy to defraud.

John Bowe, who used to work as the bank’s head of Capital Markets, is one of four bankers accused of misleading the public about its financial health in 2008.

Having spent several hours delivering his closing address over the past three days, Diarmuid McGuinness, senior counsel for John Bowe, finished by asking the jurors to acquit his client.

He said the prosecution has failed to prove every element of its case.

He said Mr Bowe was just passing on instructions and he claimed there was not a shred of evidence to prove otherwise.

Mr Bowe is accused of being part of a conspiracy to mislead investors about Anglo’s true health by beefing up its corporate deposits through a €7.2bn back-to-back transaction scheme with Irish Life & Permanent over five months in 2008.

His former colleague Willie McAteer is beside him in the dock, with former ILP executives Denis Casey and Peter Fitzpatrick, who also deny the charge.

Prosecution has not proven criminal intent, defence counsel tells Anglo trial

The 73-day trial is now in its closing stages.

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