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Former Anglo Irish Bank chief executive David Drumm. Graham Hughes/Photocall Ireland!

Former Anglo boss David Drumm facing fraud allegations in Boston court today

The allegations relate to the alleged concealment of money and assets in the run up to his filing for bankruptcy in the US.

FORMER ANGLO IRISH Bank boss David Drumm is up in court today in Boston facing fraud allegations.

The trial will see Drumm, who was in charge of the bank when it was bailed out, is to be questioned about a number of alleged instances of fraud in the two years prior to his filing for bankruptcy in the US in 2010.

The Irish Bank Resolution Company has challenged the case, claiming it has identified a number of fraudulent activities allegedly committed by the defendant.

The allegations center around alleged concealment of money and assets from his creditors in the run up to his filing for bankruptcy as well as the alleged transfer of assets and property to his wife, Lorraine.

Together with the US bankruptcy trustee, Kathleen Dwyer, IBRC filed a document with the judge on Monday, outlining these alleged “acts of fraud, misrepresentations, concealments, transfers or other predicate acts”.

They say they can prove the list at trial, where they seek the denial of a bankruptcy discharge.

The list, featuring a number of cash transfers to Lorraine Drumm, was submitted following a request from the judge in the case.

The file details a number of cash, property and vehicle transfers allegedly made by Drumm to his wife, his sister and to third parties.

These include sale proceeds from the sale of a Range Rover and a BMW, as well as a number of properties.

Drumm will be the first in to the dock this morning, with the trial set to begin at 9.30am.

It is believed that his wife will also be called to testify at some point before the court in relation to the alleged transfers.

The trial is set to last five days.

Related: Former Anglo boss David Drumm facing fraud allegations in America>

Read: Anglo worried that the bank guarantee could make it liable if other banks failed>

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