June 29, 2018 / 11:13 AM / in a year

Former Anglo Irish Bank CEO pleads guilty to fresh charges - RTE

DUBLIN, June 29 (Reuters) - The former Anglo Irish Bank CEO, who was sentenced this month to six years in jail, pleaded guilty on Friday to separate charges relating to the bank’s collapse, national broadcaster RTE reported.

David Drumm was charged with offering unlawful loans to 10 bank clients in 2008 to enable them to buy shares in the lender and boost its falling stock price. He will be sentenced on July 9, RTE said.

Drumm’s lawyer was not immediately available to comment.

Last week, Drumm started his six-year jail sentence for conspiring to defraud depositors and investors and for false accounting, the longest prison term in Ireland arising from a banking crash that led to the euro zone’s most costly state rescue.

Drumm’s sentencing next month for the separate charges will bring an end to nine years of criminal investigations into Anglo Irish, which accounted for almost half of the 64 billion euros ($74.49 billion) taxpayers had to stump up to save Ireland’s banks. The state will only recover a small fraction of the Anglo bill as it completes its wind down.

Two other senior Anglo executives were found guilty on the same charges in 2014 but were sentenced to perform community service when a judge ruled they were “led into error and illegality” by the Irish regulator. ($1 = 0.8592 euros) (Reporting by Padraic Halpin. Editing by Jane Merriman)

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