Anglo trial hears official say his hair stood up when he heard about transfer of billions of euro

The chief actuary with Irish Life has said his hair stood up when he heard that the assurance company had transferred billions of euro to Anglo Irish Bank, a court has heard.

Four former senior bankers from Anglo Irish Bank and Irish Life and Permanent (ILP) are on trial for allegedly conspiring to mislead investors by setting up a €7.2 billion circular transaction scheme to bolster Anglo's 2008 balance sheet.