The first two people to be convicted of crimes related to the collapse of Anglo Irish Bank are likely to receive softer sentences because of the role the financial regulator’s office played in their activity.

The sequence of events leading up to the offences can be traced back to a meeting in a Navan hotel in September 2007 involving Ireland’s then richest man and two Anglo Irish Bank directors.

The jury in a fraud trial of three Anglo Irish Bank directors over a multimillion loans-for-shares scheme have been told to leave behind prejudices about the defunct lender and bankers when deliberating.

The jury in the fraud trial of three former bank executives over a €625m loans-for-shares deal in the defunct Anglo Irish Bank has been told Ireland’s banking collapse is not on trial.

The Quinn Group was “doing what they were told” by Anglo Irish Bank when unloading their 29% control of the bank in July 2008.

The former financial watchdog has said he was not alarmed when one-time billionaire tycoon Sean Quinn called personally at his office and mentioned he had a secret shareholding in Anglo Irish Bank.

A director at Anglo Irish Bank was left “speechless” after a representative from the financial regulator suggested the bank consider releasing the Quinn Group from a €250m guarantee.

A director at Anglo Irish Bank said that he was left speechless after a representative from the Financial Regulator's office suggested that the bank consider releasing the Quinn Group from a €250m guarantee.

Seán Quinn has said he suspected Anglo “were doing a sweetheart deal” when it forced him to sell his stake in the bank.

The trial of three former Anglo Irish Bank directors has heard that the Financial Regulator fully supported the bank’s allegedly illegal plan to protect their share price.

Trial of former Anglo chairman and directors begins

Jailed former billionaire Seán Quinn has written to supporters from his prison cell to thank them for standing behind his family.

Anglo Irish Bank unlawfully tried to prop up its share price by “shovelling” about €2.34bn loans into companies in the Quinn Group after learning in Sept 2007 of a “towering” Quinn shareholding in Anglo that could collapse the bank.

THE family of bankrupt businessman Sean Quinn are effectively making the “extraordinary” case they have no liability for loans of €2.3 billion advanced to support Anglo Irish Bank’s share price on grounds Mr Quinn and the bank were engaged in the “criminal offence” of market manipulation, the bank has told the Commercial Court.