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Monday 1 May 2017

Revenue targets Drumm over €837 in unpaid taxes

Shane Phelan Investigative Correspondent

THE taxman has become the latest creditor to go on the trail of disgraced banker David Drumm.

An official from the Revenue Commissioners revealed yesterday the former Anglo Irish Bank chief executive owes €837 in outstanding taxes and interest for 2008.

The sum is a drop in the ocean compared with the €8.5m in unpaid loans that Mr Drumm owes his former employers. However, the Revenue warned that a further tax bill could be on the way.

In a letter to a US bankruptcy trustee, a Revenue official said Mr Drumm had failed to file any income tax returns for 2009.

The official said a further claim may be filed once those tax returns were received.

The letter asked for the Revenue's demand to be included in Mr Drumm's US bankruptcy proceedings, which have been ongoing since last October.

Fraud

Apart from Anglo, other creditors to file claims against Mr Drumm include Discover Bank, the Cape Cod Five Cents Bank, Capital One and GE Money.

Another institution, Chase Bank, is suing him for fraud over his use of a credit card.

Mr Drumm has been living in Massachusetts in the US since December 2008 when he quit the Anglo helm.

Gardai wish to interview him over irregularities at the bank, but he has refused to return home for questioning.

The Revenue previously hit another controversial Anglo figure, former chairman Sean FitzPatrick, with a €3.5m tax demand following a trawl of his affairs between 1997 and 2010.

Irish Independent

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