Two former Anglo Irish Bank executives are to carry out 240 hours community service for engaging in an illegal share support scheme.
Former Finance Director Willie McAteer and the bank's former head of Irish lending Pat Whelan will carry out the service in lieu of a 2 year sentence.
'enjoy your communtity service' was Judge Martin Nolan's final comment to the two former Anglo Irish Bank executives.
In April a jury found Willie McAteer and Pat Whelan guilty of illegally loaning €450 million to the so called Maple Ten investors for the purchase of Anglo Irish Bank shares.
The prosecution argued it was an illegal share support scheme.
Judge Martin Nolan indicated some weeks ago that he would not jail the men given that in his view they had been led into illegality by a state agency namely the financial regulator which had failed to raise red flags on the deal..
Both men were assessed by the probation service which has found them suitable for community service.
Judge Nolan has ordered that Pat Whelan and Willie McAteer carry out 240 hours community service next year – in lieu of a 2 year sentence.
Both men nodded and Pat Whelan thanked the judge.
