Belfast Telegraph

Anglo jury resumes deliberations

The jury in a fraud trial of two Anglo Irish Bank directors over a multimillion loans-for-shares scheme will today begin a fourth day of deliberation.

Former chairman of the defunct Anglo Irish Bank Sean FitzPatrick was yesterday cleared of all charges linked to a 619 million euro scheme in July 2008.

Pat Whelan, 51, of Malahide, Co Dublin, and William McAteer, 63, of Rathgar, Dublin, pleaded not guilty to providing unlawful financial assistance to a hand-picked group of clients as part of the deal.

Dublin Circuit Criminal Court has been told the scheme was concocted to allow trusted clients to buy a 25% stake in the bank in an attempt to stabilise the share price as it tanked on markets.

The stock had originally been bought up in secret trades by industrialist and now-bankrupt Sean Quinn in a 2.4 billion euro doomed gamble on the bank.

It is alleged the money was lent to Anglo clients known as the Maple 10 and members of the Quinn family.

As part of the deliberation the jury have been given access to transcripts of evidence from two bankers given immunity in the case, former Anglo directors Matt Moran and Fiachre O'Neill.

The 12 jurors - selected by ballot from a panel of 14 - went out on Friday afternoon and have completed three full days deliberation, about 13 and a half hours in total.

The jury will resume deliberations at 10.30am.


From Belfast Telegraph