The former head of group finance at Anglo Irish Bank said he was not aware that €7.2bn transactions with Irish Life and Permanent were “a straight exchange of cash with no underlying security” until after they had taken place.
Former banking boss David Drumm has claimed he does not represent a flight risk, despite lawyers arguing he has the means to flee, borne out by his wealthy lifestyle, including the $100,000 (€93,000) annual spend on his children’s education.
The declaration by David Drumm, former chief executive of Anglo Irish Bank that he would deliberate to the banking inquiry by video link is an outrageous display of condescension and disrespect toward the Irish public and a mischievous instance of self-serving manipulation.
DPP raises new concerns over publication of David Drumm’s statement; Cuthbert ‘stepping down with immediate effect’ as Cork senior football manager; Ryanair flight returns to airport minutes after departure to remove forgotten luggage; and Aer Lingus flight forced to swerve in take-off to avoid jet.
It will be a “close call” whether the banking probe can consider former Anglo chief David Drumm’s written evidence after the idea of allowing him to given video-link testimony was torpedoed by the Director of Public Prosecutions, a senior source has warned.
THERE can be absolutely no doubt that an already questionable banking inquiry would have become a laughing stock in the eyes of the public if former Anglo Irish Bank chief executive David Drumm was allowed to tell his account, on his terms, by video link from the US, of its role in the country’s economic crash. As it turns out, both the inquiry’s own legal team and the Director of Public Prosecutions have advised it strongly against hearing his evidence.