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Former Anglo Irish director pleads guilty to fraudulently obtaining a loan from the bank

Willie McAteer will be sentenced in January.

Image: Leah Farrell/RollingNews.ie

FORMER FINANCE DIRECTOR of Anglo Irish Bank Willie McAteer has pleaded guilty to fraudulently obtaining an €8 million loan from the bank.

McAteer (66) of Greenrath Tipperary Town, Tipperary entered the plea this morning at Dublin Circuit Criminal Court ahead of his trial which was due to start in January 2017 and last for one month.

McAteer admitted obtaining a loan of €8,426,307 from Anglo on 29 September 2008 which he secured against his shares in the bank. According to the indictment he then used the money to pay off a personal loan he obtained from Bank of Ireland.

Judge Melanie Greally allowed McAteer to remain on bail with the consent of the prosecution and set a sentence date for 12 January 2017. She also urged caution in the reporting of the matter in the media.

The charge against McAteer states that “in breach of section 297 of the Companies Act, 1963, that you, on 29 September 2008, were knowingly a party to the carrying on of the business of a company, for a fraudulent purpose, the granting of Anglo Irish Bank Corp PLC of a loan to yourself in the amount of Eur8,426,307 secured only upon your shares in Anglo Irish Bank Corp PLC so that you could discharge a loan to Bank Of Ireland in that amount you were personally liable”.

Comments have been turned off as legal proceedings are ongoing.

Read: FAI fined by FIFA for 1916 Rising symbol on jersey >

Read: Over €20,000 raised to aid recovery of Maynooth student Kym Owens >

 

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About the author:

Declan Brennan and Conor Gallagher

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