Anglo jury warned: Banking collapse not on trial

The jury in the fraud trial of three former bank executives over a €625m loans-for-shares deal in the defunct Anglo Irish Bank has been told Ireland’s banking collapse is not on trial.

Former bankers Sean FitzPatrick (aged 65), Willie McAteer (aged 63) and Pat Whelan (aged 51) have pleaded not guilty to providing unlawful loans for clients to unwind a secret 28% shareholding held by bankrupt tycoon Sean Quinn.