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Dublin: 13 °C Wednesday 27 May, 2020

Two former bankers involved in Anglo Irish Bank defraud scheme lose court appeal

The Court of Appeal upheld the convictions of two former bankers jailed for conspiracy to defraud the public Anglo Irish Bank in 2008.

Image: Shutterstock/KucherAV

THE COURT OF Appeal has upheld the convictions of two former bank executives jailed last year for a €7.2 billion conspiracy to defraud the public about the true health of Anglo Irish Bank in 2008.

Last July, the former head of capital markets with Anglo Irish Bank John Bowe and the former chief executive of Irish Life and Permanent, Denis Casey, were found guilty by a jury at Dublin Circuit Criminal Court of agreeing a scheme to mislead the public about the true health of Anglo.

Bowe (52), from Glasnevin, Dublin and Casey (56), from Raheny, Dublin had pleaded not guilty to conspiring to mislead investors by using inter-bank loans to make Anglo appear €7.2bn more valuable between 1 March and 30 September 2008.

Judge Martin Nolan sentenced Bowe to two years and Casey to two years and nine months imprisonment on 29 July 2016.

The men had brought appeals against their convictions which were heard over a week in March.

Publication of the appeal hearings was restricted for legal reasons but today, the three-judge Court of Appeal dismissed the men’s appeals and upheld their convictions.

Giving judgment today, President of the Court of Appeal Mr Justice Seán Ryan said the court had taken into account the “extensive” grounds of appeal and arguments concerning the convictions.

Mr Justice Ryan said the lengthy and complex trial ultimately turned on issues before the jury that were properly dealt with by the trial judge.

Despite the “herculean” efforts by the men’s barristers and the “myriad of issues” raised on their behalf, the Court of Appeal was satisfied that the men’s trial was satisfactory and their convictions safe.

Mr Justice Ryan, who sat with Mr Justice George Birmingham and Mr Justice John Edwards, said the appeal must accordingly be dismissed.

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Ruaidhrí Giblin

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