Thursday 29 September 2016

Former Anglo CEO David Drumm to face two trials over alleged offences during time at bank

Published 08/04/2016 | 11:39

David Drumm pictured leaving court
David Drumm pictured leaving court

Former Anglo Irish Bank boss David Drumm is to face two trials in relation to his time at the helm of he failed lender, it emerged today.

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Counsel for the State Paul O'Higgins sought the two trial dates at a hearing of Dublin Circuit Criminal Court.

Judge Terence O'Sullivan agreed to the application.

It means Mr Drumm (49), with an address in Skerries, Co Dublin, will face trial in April next year on two charges of conspiracy to defraud and false accounting relating to €7.2bn in deposits placed in Anglo accounts by the then Irish Life and Permanent between March and September 2008.

The conspiracy charge carries an unlimited jail term.

A second trial on 31 other charges mainly relating to the so-called Maple 10 share support scheme is set to get underway in January 2018.

Mr Drumm is accused of unlawful lending to members of the Quinn family and the Maple 10 investors to unwind a secret 28pc shareholding in Anglo built up by tycoon Sean Quinn, charges which carry a maximum term of five years.

The second trial will also deal with allegations he was privy to the falsifying of documents and that he created false documents, charges carrying a maximum sentence of 10 years in jail.

Mr O'Higgins said the first trial could take 12 weeks, although Mr Drumm’s solicitor Michael Staines said it could take longer.

Mr Staines had made an application to delay he first trial until October of next year due to the amount of disclosure involved.

However, Judge O'Sullivan said the State should be able to bring it's case a year from now.

Separately, an application from Mr Staines for a relaxing of Mr Drumm’s bail conditions was granted.

He now only has to sign on at a garda station once daily. He had been obliged to do so twice a day until now.

The State consented to the application.

Mr Drumm was in the public gallery for the hearing and did not have to address the court.

Wearing a dark suit, blue shirt and navy tie, he was accompanied by a sister.

When his case was called he stood so he could see the proceedings as there was a large crowd in the courtroom for other cases.

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