FORMER Anglo Irish Bank boss David Drumm and his wife Lorraine had up to 25 bank accounts between them before he filed for bankruptcy in the US.
The disgraced banker, who has debts of €10.26m, revealed the existence of the accounts at a creditors meeting in Boston yesterday.
At the meeting it also emerged how Mr Drumm (44), who gardai want to question over irregularities at the bank, amassed a €3.8m Anglo pension pot.
The Dubliner, living in the US since quitting as Anglo chief executive in December 2008, will be able to begin drawing from the pension when he turns 55 in 11 years' time.
It also emerged for the first time that Mr Drumm transferred $1.9m (€1.4m) into a wealth management fund within months of relocating to the US. He also admitted he had yet to file tax returns in Ireland for 2009.
During a two-hour hearing, Mr Drumm was unable to answer many questions posed by bankruptcy trustee Kathleen Dwyer about transfers in and out of the accounts held by him and his wife.
Despite once being chief executive of Ireland's third largest bank, Mr Drumm painted a chaotic picture of how he managed his personal finances.
He claimed he had no system for tracking exactly how much money he and his wife had at any one time.
"It was something we didn't do," he said.
He admitted he and his wife had held between 20 and 25 bank accounts, that he knew the passcodes to his wife's online banking accounts, and arranged some transfers of money in and out of them himself.
In response to questioning, Mr Drumm repeatedly answered that he didn't know or couldn't remember details of various transactions.
When asked about the $1.9m transfer into a Boston wealth management fund, he was also unable to provide certain details.
Mr Drumm told the hearing he would work to find out the source of the money.
He said he and his wife kept so many accounts for two reasons. The first was to take advantages of favourable interest rates on time-sensitive accounts such as term deposits.
Mr Drumm said the other reason was that they used the different accounts so they could keep the deposits in each relatively low and take advantage of a US law which guarantees accounts under $250,000 (€185,000).
"I think it's quite common to make sure you get the benefit of protection," Mr Drumm said.
He was also asked about the new financial advisory business he set up in Boston. He told Ms Dwyer he had no business partners and no employees at his South Boston-based consulting practice, Delta Corporate Finance LLC.
He said the business did have a customer, however, but declined to name that client publicly, telling the trustee he would give her that information privately.
The Irish Independent revealed last month how Mr Drumm had been providing advice to John McGrail, an Irish-American developer based in Boston who owes Anglo over €90m.
Ms Dwyer asked Mr Drumm if he had other sources of income, given that the consulting business didn't appear sufficient to cover his mortgages.
He replied that he had been "burning savings" to meet the mortgage payments.
Questioning of the former banker is set to resume next month.
Mr Drumm filed for bankruptcy last October. His main creditor is Anglo, which is owed €8.5m in unpaid loans.
Meanwhile, Anglo was last night set to file papers in the US to sue Mr Drumm for "breach of fiduciary duty" over his stewardship of the collapsed bank.
It will also file a separate lawsuit sueing him for the banks' costs in previous cases in the Irish courts.
The sums involved were unclear. However, sources suggested the "breach of fiduciary duty" case would be the larger one, potentially running into the millions.