News Courts

Sunday 21 September 2014

Anglo jury to resume deliberations tomorrow

Sarah Stack

Published 14/04/2014 | 17:26

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FitzPatrick (Sean): (Jury out) Three bankers pleaded not (NOT) guilty to providing funding for the purchase of Anglo’s own shares, Dublin Circuit Criminal Court, 14–4-14 
Pic shows: Former Anglo Chairman Sean FitzPatrick (65), of Whitshed Road, Greystones, Co Dublin, at court yesterday (Mon.) where he has pleaded not (NOT) guilty to providing funding for the purchase of Anglo’s own shares in contravention of the 1963 Companies Act. 
Pic: Courtpix
Former Anglo Chairman Sean FitzPatrick (65) earlier today. Photo: Courtpix

THE jury on the trial of three former Anglo Irish Bank executives will continue its deliberations tomorrow after considering the case for almost six hours.

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Former chairman Sean FitzPatrick  (65), from Greystones, Co Wicklow; William McAteer (63), of Rathgar in Dublin; and Pat Whelan (51), of Malahide, Co Dublin deny 10 counts of providing unlawful financial assistance to net worth Anglo clients – known as the so-called Maple 10 - in July 2008 to buy shares in Anglo.

The loan-for-shares deal involved unwinding Sean Quinn’s secret 29pc stake in the bank, build up through contracts for difference (cfds).

Mr Whelan, Anglo’s former head of lending in Ireland and ex-chief risk officer Mr McAteer also deny six counts each of giving illegal loans to Mr Quinn’s wife Patricia and their five children as part of the same deal.

The three are charged with breaching Section 60 of the Companies Act 1963 by lending money to investors to buy shares in Anglo.

The 12 strong jury began deliberations on Friday afternoon after hearing ten weeks of evidence at Dublin Circuit Criminal Court.

They continued deliberations shortly before 11am today, stopping only for lunch when they asked trial judge Martin Nolan for a copy of Mrs Quinn’s loan pack.

They later asked for the court transcripts of evidence given by former Anglo executives Matt Moran and Fiachre O’Neill.

Mr Moran, then Anglo’s chief financial officer, and Mr O’Neill, former head of compliance, were both granted immunity for prosecution for giving evidence during the trial.

Judge Nolan told the jury he will deal with the request when they return to continue deliberations tomorrow.

He has already ordered the jury acquit Mr FitzPatrick in relation to the six Quinn loans and he directed not guilty verdicts in respect of seven counts against Mr Whelan in relation to facility letters to the maple 10.

Judge Nolan also urged the seven men and seven women to leave any prejudice they may have at the jury door and to try the men on the charges before them and not for the collapse of the banking system.

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