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Image: Laura Hutton/Photocall Ireland

Former Anglo executives to be sentenced today

The two were found guilty in April, but sentencing was adjourned to assess their suitability for community service.
Jul 31st 2014, 8:31 AM 6,970 37

TWO FORMER ANGLO Irish Bank executives will today be sentenced for arranging illegal loans for developers to buy shares in the doomed bank.

Patrick Whelan, who was Anglo’s director of lending in Ireland and Willie McAteer, the bank’s finance director, were found guilty in April of giving the loans to a group of ten developers in 2008.

The loans were used as part of a scheme to dilute the interest in the bank built up by businessman Seán Quinn.

Judge Martin Nolan adjourned sentencing to assess the suitability of the two for community service.

Judge Nolan had said that the two had a duty to stop the loans, but had stronger criticism for the financial regulator.

He said that it would be unjust to send the two men to jail when it appeared that a State agency had “led them to error and illegality”.

Opinion: Who was to blame – Anglo or the Financial Regulator? It’s a false dichotomy.

Read: Here’s what the judge in the Anglo trial had to say about the Financial Regulator

Read: Garda chief: ‘The Anglo case was a very complex, complicated investigation’

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Paul Hosford

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