Anglo trial told of pressure on Quinn to keep shares

Ireland’s once richest man Seán Quinn was facing regular demands for hundreds of millions of euro from late 2007 on in order to maintain his shareholding in Anglo Irish Bank.

Details of the financial pressure faced by the Fermanagh entrepreneur were revealed during the trial of three former Anglo executives, including its chairman Seán FitzPatrick, at the Dublin Circuit Criminal Court yesterday.

The jury heard how brokers were making regular margin calls on Mr Quinn because of the falling price of Anglo shares. In November 2007, Mr Quinn faced a demand for €150m and one for €500m the following month.