Willie McAteer sentenced for fraudulent Anglo loan, but gets no extra prison time

Former Anglo Irish Bank executive Willie McAteer will not serve any extra time in prison for receiving a fraudulent loan in September 2008 in order to keep the bank from failing.

Imposing a sentence of two-and-a-half years, Judge Martin Nolan said survival was the main motivating factor in the fraud trade. McAteer, then director of finance at the bank, obtained the €8m loan as the bank was on the brink of collapse.