A lot of errors in documents, admits David Drumm

David Drumm claimed he was "devastated" when it became clear that there were "voluminous" errors in financial statements made to bankruptcy lawyers.

The former Anglo Irish Bank CEO also insisted yesterday that he was joking during an email exchange with his then Boston bankruptcy lawyer Stewart Grossman, when he wrote “it never pays to co-operate right?” in reference to the efforts of trustee Kathleen Dwyer to work through the bankruptcy process with the former banker.

Mr Grossman had said he had concerns over the payments which were made in money, property, and vehicles over two years to Lorraine Drumm. More than €830,000 was transferred to the wife of the former banker between September and December 2008 alone.