Bank manager jailed for €3.4m 'ponzi scheme' theft

A Bank of Ireland manager who stole over €3m from his employers in a “ponzi scheme” has been jailed for four and a half years at Dublin Circuit Criminal Court.

William Freeland (aged 57) was employed as a business manager in the Bray Branch when he began setting up lending accounts in fake names and taking money from them. He would then open up more accounts to get money to repay the loans taken from previous ones.