We first reported about former Anglo Irish Bank head David Drumm when in October 2015 he was arrested at his $2 million Wellesley home at the request of Irish authorities. Drumm had been living in Wellesley for six years, much to the chagrin of Irish financial regulators who accused him of all sorts of shenanigans that allegedly went down with Anglo Irish Bank, eventually leading the Irish government to prop it up during that country’s banking crisis earlier in the 2000s.
After his arrest, he remained in a Massachusetts jail until, weary of that, he asked in February 2016 to be sent home to face the music. At that time he was extradited to Ireland to answer to more than two dozen criminal charges overseas related to that bank’s messy demise.
Now the Irish Times reports that “…the 51-year old former banker from Dublin was found guilty of conspiracy to defraud and false accounting relating to banking transactions he was involved in at the height of the 2008 financial crisis…the jury convicted him over a series of circular transactions that made Anglo’s deposits look €7.2 billion larger than they were in September 2008.”
He had denied the charges of conspiracy to defraud and false accounting. Drumm is out on bail and will be sentenced on June 20.
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