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Anglo sentencing to resume

Further evidence will be called today at the sentencing hearing of 2 former Anglo Irish Bank executi...
TodayFM
TodayFM

8:49 AM - 29 Apr 2014



Anglo sentencing to resume

News

Anglo sentencing to resume

TodayFM
TodayFM

8:49 AM - 29 Apr 2014



Further evidence will be called today at the sentencing hearing of 2 former Anglo Irish Bank executives.

Former Finance Director Willie McAteer and former head of lending in Ireland Pat Whelan were convicted of allowing illegal loans to be issued to the so called Maple ten to buy Anglo shares in July 2008.

It's not clear if Judge Martin Nolan will finalise sentencing today for Willie McAteer and Pat Whelan.

The two former Anglo Irish Bank executives are facing up to 5 years in jail for breaching S60 of the Companies Act.

450 million euro was illegally lent to the Maple Ten to buy Anglo shares in what was described by the prosecution as a type of share support scheme.

Yesterday solicitor Robert Heron told the court he was not aware Anglo would be lending to the ten individuals when the bank sought legal advice from him in 2008.

Today Superintendent Eamon Keogh – who headed up the investigation - will run through the facts of the case.



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