Anglo duo avoid jail despite convictions

Two former directors of Anglo Irish Bank will not be jailed following their conviction for engaging in an illegal share support scheme.

Judge Martin Nolan adjourned the sentencing of former director of finance William McAteer and former head of Irish lending Pat Whelan until July 31 to assess their suitability for community service.

Referring to the role of the financial regulator’s office in the Maple Ten scheme, the judge said: “It would be most unjust to jail these two men when I feel that a State agency had led the two men into error and illegality.”