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Fraud team targets Irish bank’s ex-chief

Former Anglo Irish Bank chief executive David Drumm is the next key target for the Garda fraud bureau team investigating alleged financial wrongdoing at the scandal-hit lender.

Mr Drumm was a member of the top management trio in the bank during the timeframe under joint investigation by Gardai and the Office of the Director of Corporate Enforcement.

It is likely gardai will now attempt to make contact with Mr Drumm, who is currently living in the United States, to invite him to make himself available voluntarily for interview by fraud officers.

It is also expected more arrests will be carried out as investigators turn their attention to the next layer of management in the bank at the time. Details of the new moves in the lengthy and complex inquiry were revealed last night as detectives continued to question Anglo's former finance director and chief risk officer, Willie McAteer about the alleged irregularities.

He is likely to remain in custody for further questioning until this afternoon and then released without charge, pending further inquiries and the completion of an overall file for the Director of Public Prosecutions.

Last week, the third member of the trio, former Anglo chairman, Sean FitzPatrick was also detained overnight for questioning about his alleged role.

Mr Drumm is currently living in a luxury house, which he bought for £3m in March 2008, in Cape Cod in Massachusetts.

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