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Dublin: 10 °C Tuesday 19 November, 2019
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David Drumm's bail terms relaxed as trial dates set for 2017 and 2018

The former Anglo boss is charged with 33 alleged offences.

Image: PA Wire/Press Association Images

DAVID DRUMM WILL face two trials, one in 2017 and one in 2018, in relation to alleged offences committed during his time as CEO of Anglo Irish Bank.

Mr Drumm (49) is charged with 33 counts under two separate bills concerning alleged offences committed at the now defunct bank. He has yet to enter a plea to the charges.

The former banker’s bail conditions were relaxed today with the consent of gardaí and the prosecution. Mr Drumm now has to sign on at a garda station just once per day instead of twice.

Judge Terence O’Sullivan at Dublin Circuit Criminal Court also ordered that one trial will take place at Easter 2017 while the second will start in January 2018.

Mr Drumm with an address of Old Colony Road, Wellesley, Massachusetts in the US faces two charges of conspiring to defraud depositors and investors at Anglo by “dishonestly” creating the impression that deposits in 2008 were €7.2 billion larger than they were.

He faces one additional charge in relation to the EU transparency directive.

He will stand trial for these offences on 24 April 2017. The case is expected to take 12 weeks, although Mr Drumm’s solicitor Michael Staines warned it could take longer.

Mr Drumm also faces 16 counts of offering unlawful financial assistance to members of businessman Sean Quinn’s family and 10 other individuals as well as 14 charges of falsifying documents.

These charges will be dealt with at a trial set down for 12 January 2018. This trial will take about two months.

Mr Drumm appeared in court for the short hearing wearing wearing a navy suit and overcoat.

Prosecuting counsel Paul O’Higgins SC said it will take Mr Drumm “considerable” time to prepare for his first trial while Mr Staines said there was a huge amount of disclosure expected from the State.

Mr O’Higgins said the DPP should be relatively quick with disclosure as it has already gathered the material for other trials not involving Mr Drumm.

Judge O’Sullivan agreed to allow Mr Drumm sign on once per day at Balbriggan Garda Station after hearing gardaí have no problem with this.

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About the author:

Declan Brennan and Conor Gallagher

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