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Dublin: 12 °C Tuesday 15 October, 2019

Drumm defends role in Anglo collapse, says: 'Everyone was on the same team'

The former chief executive of Anglo Irish Bank says he will not be returning from the US because of the “witch hunt” against him in Ireland.

Image: James Horan/Photocall ireland

DAVID DRUMM HAS said he has no intention of returning to Ireland and insists that the goings on at Anglo Irish Bank prior to its collapse were known at the very highest levels of the Irish government.

In an exclusive interview with Niall O’Dowd that features in today’s Sunday Business Post (paywall) and on, the former chief executive of Anglo Irish has given his take on a wide range of issues surround the now defunct bank which has cost the Irish taxpayer some €30 billion.

Drumm, who has been living in the US since 2009 following the collapse of the bank, said he would not be returning to Ireland because “there is a witch hunt on”.

He also insists that both the Central Bank and the Financial Regulator knew about the controversial ‘Maple 10′ deal where a so-called ‘golden circle’ of investors bought Anglo shares formerly controlled by Seán Quinn with loans from the bank.

Drumm maintains that Anglo did not mislead the government about their loan books on the night the bank guarantee was introduced but admits that the blanket guarantee by the last government in September 2008 was a mistake.

For more, read the full interview on >

Read: Drumm’s $4m Cape Cod mansion sold to pay off creditors >

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About the author:

Hugh O'Connell

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