Friday 21 October 2016

Jury can deliver majority verdict in trial of former executives from Irish Life and Permanent

Conor Gallagher

Published 03/06/2016 | 12:26

Former Irish Life and Permanent Chief Executive Denis Casey. Photo: Collins Courts
Former Irish Life and Permanent Chief Executive Denis Casey. Photo: Collins Courts
Former Director of Finance at Irish Life and Permanent, Peter Fitzpatrick (63). Photo: Collins Courts

The jury in the trial of two former executives from Irish Life & Permanent (ILP) accused of conspiracy to defraud has been told it can return a majority verdict.

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The eleven jurors had been deliberating for 44 hours and 26 minutes over the course of eleven days when Judge Martin Nolan told them this morning they can return a verdict on which ten of them agree. Up to now they could only return unanimous verdicts.

On Wednesday the jury convicted Anglo's former head of capital markets, John Bowe (52) and the bank's then finance director, Willie McAteer (65) who were accused of conspiring to mislead investors, depositors and lenders about the true health of Anglo. They have been remanded on bail pending sentence until July 25th next.

The jury have yet to return verdicts in the case of former chief executive of Irish Life & Permanent (ILP) Denis Casey (56) and his finance director in 2008, Peter Fitzpatrick (63).

John Bowe (52) from Glasnevin, Dublin and Willie McAteer (65) of Greenrath, Tipperary Town, Co. Tipperary, Denis Casey (56), from Raheny, Dublin and Peter Fitzpatrick (63) of Convent Lane, Portmarnock, Dublin all pleaded not guilty to conspiring together and with others to mislead investors by setting up a €7.2 billion circular transaction scheme between March 1 and September 30, 2008 to bolster Anglo's balance sheet.

Today is day 86 of the trial which is the longest criminal trial in the State's history.

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