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The former chairman of the collapsed bank never felt he had anything to apologise for.
It’s understood the fine relates to a transaction involving Anglo Irish Bank bonds and a Maple 10 developer.
Drumm was released from Loughan House this morning.
The Taoiseach has suggested that the bank guarantee was an investment.
A disciplinary tribunal heard that the former Anglo Irish Bank chair had committed “misconduct of a serious nature”.
The legal action was first filed in 2011, and had been expected to last a number of months.
Justice Garrett Simons said there was ‘no realistic basis’ for the application.
The action first initiated in 2011 was delayed for several years pending criminal cases against various Anglo officials.
A report said that shredding documents were among the shortcomings made in the ODCE investigation.
The former chief executive was this week jailed for six years.
Detective chief superintendent Pat Lordan said Drumm’s sentencing has come at the “end of a long road for An Garda Síochána”.
Judge Karen O’Connor noted that the most significant form of mitigation would have been a result of a guilty plea but that was not available in this case.
He will be sentenced on 20 June.
The trial has been one of the longest-running in the history of the State.
Drumm faces charges of alleged conspiracy to defraud Anglo depositors by inflating the Anglo deposit total by €7.2 billion in September 2008.
Judge Karen O’Connor said the jury must come to their own conclusion based on the evidence they hear in court.
The inquiry is investigating the sale of IBRC loans where there was a loss of at least €10 million to the taxpayer.
Today was the 30th day of the trial of former Anglo Irish Bank CEO David Drumm.
Drumm has pleaded not guilty to conspiring to defraud depositors and investors by “dishonestly” inflating Anglo’s deposits figure by €7.2 billion.
Jury selection is under way.
O’Mahony had been charged with conspiring to destroy or falsify records of accounts connected to the bank’s former chief executive Sean FitzPatrick
The Court of Appeal upheld the convictions of two former bankers jailed for conspiracy to defraud the public Anglo Irish Bank in 2008.
Asked if he would be celebrating tonight FitzPatrick told the press pack: “That was last night”.
The Office of the Director of Corporate Enforcement led the investigation.
But the state corporate watchdog says that its practices have since changed.
The ex-Anglo chairman’s trial had become the longest in the history of the Irish state.
It entered its 90th day today.
The former Anglo Irish Bank chairman is accused of misleading auditors about multimillion euro loans from the years 2002 to 2007.
“I made a dreadful mistake which thereafter I acknowledged and admitted,” he told the court.
Willie McAteer is currently serving a three and a half year sentence for other offences.
Willie McAteer will be sentenced in January.
Earlier, the State’s highest court rejected the independent TD’s challenge to the decision to use public money to aid institutions like Anglo Irish Bank in 2010.
Sean FitzPatrick has pleaded not guilty to 27 offences under the 1990 Companies Act.
Sean FitzPatrick is facing charges of misleading the bank’s auditors about millions of euro in loans.
The trial is expected to run for three months.
The judge at a hearing today did note, however, that it would be hard for him to leave the state without being noticed.
The deputy’s challenge against the €31 billion promissory note deal was rejected by the High Court.
The former banker has waived his right to battle his extradition from the US.
Drumm has offered to return to Ireland under strict bail conditions.
Another potential juror told Judge Martin Nolan he had “very strong views” on the issue.