Drumm ‘authorised’ €7bn deal
The trial of four senior bankers accused of conspiring to mislead investors has heard that former Anglo Irish Bank CEO David Drumm authorised €7.2 billion in allegedly dishonest transactions.
The four executives — including former Irish Life and Permanent (ILP) chief executive Denis Casey and Anglo’s former group finance director Willie McAteer — are accused of conspiring to mislead investors by using interbank loans to make Anglo appear €7.2bn more valuable between March 1 and September 30, 2008.
