Anglo accuses Drumm of fraud

THE exiled former chief executive of Anglo Irish Bank has been accused of outright fraud by his former employers.

The bank said David Drumm manipulated his position to ensure that loans taken out by him and other directors could not be fully chased by the bank.

He did this, the bank has said, by delaying the recording of these loans for nine months to see how Anglo’s stock price would fair and altering key pieces of documentation.