David Drumm fails to secure bail release from US prison

Former Anglo chief executive David Drumm has failed to secure release from a US prison pending his extradition trial next March which could see him sent back to Ireland.

Last month, Drumm asked Massachusetts magistrate Judge Donald Cabell to release him on bail ahead of the extradition hearing. He has been in prison since October 10.

Drumm is facing 33 charges relating to his time in the bank if he is returned to Ireland.

During the November hearing, Drumm told the court he was not a flight risk and offered to be placed under house detention, with electronic monitoring.

His defence team also questioned the delay in the application from Ireland for his extradition.

In most cases people facing extradition hearings in the US are denied bail unless there are special circumstances which would warrant it.

Yesterday in his ruling, Judge Cabell said Drumm had not established the “presence of special circumstances”.

Drumm will now remain in custody until the extradition hearing on March 1.