David Drumm Pleads Guilty To Role In Providing Unlawful Loans At Anglo
David Drumm has pleaded guilty to his role in providing unlawful financial assistance to 10 people during the financial crisis.
The former CEO of Anglo has admitted authorising loans to the so-called ‘Maple 10’ group so they could buy shares in the bank.
Earlier this month, the 51-year-old was sentenced to six years in jail after a jury convicted him of conspiracy to defraud and false accounting.
David Drumm was brought into the Dublin Circuit Criminal Court this morning from Mountjoy Prison.
Dressed in blue jeans and a white polo shirt, the former Anglo CEO was arraigned on counts of authorising or permitting unlawful financial assistance to be given to 10 people to purchase shares in Anglo in July 2008.
He replied ‘guilty’ after each charge was put to him.
Mr Drumm, with an address in Skerries in Dublin, was remanded in custody ahead of a sentence hearing next month.