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Anglo Trial end closes a chapter on Celtic Tiger

THE Anglo Trial lasted for 47 days and became one of the biggest criminal cases ever witnessed in an Irish courtroom.

It took the jury almost 17 hours to convict William McAteer and Pat Whelan of ten charges each of providing illegal loans to buy shares in the bank – the so-called Maple Ten deal.

They were each acquitted of six other criminal charges in relation to loans to developer Sean Quinn and his family.

The same jury yesterday cleared former Anglo Irish Bank chairman Sean FitzPatrick of all charges of providing unlawful financial assistance to a group of investors to unwind Sean Quinn's stake in the bank.

The trial itself followed one of the most extensive and lengthy criminal investigations in the history of the State.

The story of the downfall of Anglo Irish Bank and its ruinous property lending is, by now, well known.

Its collapse cost the taxpayer around €30bn and led to the bank's nationalisation, now renamed as Irish Banking Resolution Corporation.

The ending of the Anglo Trial closes a major chapter in the story of Ireland's Celtic Tiger and the ignominious financial crash.

That said, questions will always remain about the activities of other individuals in Anglo's collapse.

Not least of these concern the role played by former Anglo CEO David Drumm, who emerged in trial evidence as a central figure, and is currently residing in the US.