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Former Anglo Irish Bank chief David Drumm denied bail in US

Published 11/12/2015

David Drumm is the former chief executive of Anglo Irish Bank
David Drumm is the former chief executive of Anglo Irish Bank

A US judge has rejected a request from the former chief executive of Anglo Irish Bank to be released on bail while he awaits an extradition hearing on fraud charges in Ireland.

Federal judge Donald Cabell, in Boston, said David Drumm's lawyers failed to show he should be released due to "special circumstances" while he awaits the March hearing.

Drumm's lawyers argued last month he should be released on bail and placed on home confinement with electronic monitoring so he could continue working and support his family.

Judge Cabell said in his ruling that Drumm's family appear to have significant resources.

Irish investigators accuse Drumm of conspiring to conceal massive losses from shareholders.

Drumm left Ireland after the bank collapsed. He moved to the Boston suburb of Wellesley in 2009.

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