Friday 17 August 2018

Jury in David Drumm trial sent home as deliberations to continue tomorrow

Former CEO of the Anglo Irish Bank, David Drumm. Photo: Collins Courts
Former CEO of the Anglo Irish Bank, David Drumm. Photo: Collins Courts

Andrew Phelan

THE jury in the trial of former Anglo Irish Bank CEO David Drumm has been sent home for the night after a third day of deliberations.

Judge Karen O'Connor sent the jurors away and told them to return to Dublin Circuit Criminal Court tomorrow, when they will continue to consider verdicts in the case.

The nine men and three women retired last Tuesday, after 81 days of the trial, and have been deliberating for just over seven hours so far.

There was a two-day delay last week when one juror member was unable to come to court on Thursday and Friday.

Mr Drumm (51) has pleaded not guilty to conspiring to defraud by dishonestly creating the impression that Anglo's customer deposits were €7.2bn larger than they really were in September 2008.

He is alleged to have conspired with Anglo’s former Finance Director Willie McAteer and head of Capital Markets John Bowe, as well as Irish Life and Permanent’s then-CEO, Denis Casey, and others.

The Dublin Circuit Criminal Court case centres on a series of interbank deposits which circulated between Anglo and ILP during the financial crisis.

The transfers were routed through Irish Life Assurance (ILA), returning to Anglo where they were then treated as customer deposits, which are a better indicator of a bank’s health.

Mr Drumm also denies false accounting, by providing misleading information to the market.

The trial has been one of the longest-running in the history of the State.

This afternoon, when the jury had been deliberating for seven hours and 10 minutes, Judge Karen O'Connor sent them home and repeated her warning to them not to read anything about the case, "particularly at this stage when you are engaged in deliberations."

When they retired to begin deliberations last week, Judge O’Connor told the three women and nine men of the jury they must consider each charge separately and their verdicts must be unanimous.

An enlarged jury of 15 had been empanelled at the start of the trial due to its length and the potential for drop-outs, and 14 remained by the end.

However, only 12 can consider a verdict and they were selected randomly, with two sent home.

Last week, the jurors returned to the court to have one call - between Mr Drumm and Mr Bowe - replayed.

They have also been given transcripts of all the taped 2008 phone calls heard during the trial.

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