Banks’ loans to solicitor ‘reckless’

Anglo Irish Bank and EBS engaged in reckless practices in lending to Thomas Byrne, it has been suggested at the former solicitor’s theft and fraud trial.

Damien Colgan, defending, put it to senior officials from both banks that their approval process for issuing loans to the accused may have been irresponsible.

Mr Byrne, aged 47, of Walkinstown Rd, Crumlin, is accused of theft and fraud offences totalling €51.8m. The charges allege he transferred clients’ homes into his name, then used them as collateral for property loans.