Trial of four former Anglo Irish Bank executives begins

Trial of four former Anglo Irish Bank executives begins
Willie McAteer
Willie McAteer

The trial is underway of four former bankers accused of misleading investors and depositors in Anglo Irish Bank.

All have pleaded not guilty to engaging in transactions in 2008 to make the former bank’s deposits appear over €7bn stronger than they were.

For only the third time in the history of the State, an enlarged jury of 15 has been sworn in to hear a criminal trial.

They have heard the case is set in “era of financial turbulence” and they have been told they will be brought back to a time of “economic difficulty and despair”.

The four former bankers each deny a single charge of conspiring to defraud by misleading investors and depositors in Anglo Irish Bank.

They are: Willie McAteer – Anglo’s former finance director, John Bowe, who used to be responsible for funding Anglo, Denis Casey – former chief executive of Irish Life & Permanent and its former group director Peter Fitzpatrick.

They are accused of engaging in transactions between March and the end of September 2008 to make the Anglo’s deposits appear €7.2bn stronger than they were.

The first of around 100 witnesses is due to give evidence this afternoon.

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Wesley O’ Regan is the General Manager of Popscene in Voodoo Rooms, Cork city. Popscene opened last November and is Cork’s only themed bar that is dedicated to celebrating the best of the 80s and 90s. https://www.facebook.com/PopsceneCork/You've Been Served: Wesley O'Regan, Popscene

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