Sunday 20 August 2017

Anglo trial: Closing speeches begin in trial of four former bank executives accused of conspiring to defraud investors in 2008

Left to right, William McAteer, Denis Casey, John Bowe, and Peter Fitzpatrick
Left to right, William McAteer, Denis Casey, John Bowe, and Peter Fitzpatrick

Declan Brennan

Closing speeches have begun in the trial of four former bank executives accused of conspiring to defraud investors in 2008.

The four former executives from Anglo and Irish Life & 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 balance sheet.

John Bowe (52) from Glasnevin, Dublin, Willie McAteer (65) of Greenrath, Tipperary Town, Co. Tipperary, Denis Casey (56), from Raheny, Dublin, Peter Fitzpatrick (63) of Convent Lane, Portmarnock, Dublin have all pleaded not guilty at Dublin Circuit Criminal Court to conspiring together and with others to mislead investors through financial transactions between March 1st and September 30th, 2008.

The trial began in January and has run for 70 days. This morning Úna Ní Raifeartaigh SC, for the Director of Public Prosecutions, began outlining the State's case to the 13-strong-jury.

The jury will hear closing speeches from each of the defendant's lawyers. After hearing a charge on the law to be applied from Judge Martin Nolan 12 of the jurors will be selected to deliberate on the evidence.

Ms Ní Raifeartaigh has told the jurors that they are on the home stretch now and now it has been an extraordinary trial after hearing four months of banking evidence.

She told them that this case is a conspiracy to defraud case. Her speech is expected to be completed by the end of today's sitting.

Online Editors

Editor's Choice

Also in Irish News