A former head of a major Irish bank has been extradited from the U.S. and brought before Dublin District Court to face several charges stemming from the bank’s role in the 2008 financial crisis.
David Drumm, former chief executive of Irish Anglo Bank from 2005 until 2008, had been arrested in Boston in October 2015, and originally attempted to fight extradition — but he recently withdrew the objection and was returned to Ireland early on Monday.
Drumm faces 33 charges in Ireland, which echoes Iceland’s unprecedented move to hold its bankers criminally accountable for their role in that country’s economic meltdown. Though Drumm predictably denied wrongdoing, his charges include “fraud, forgery, misleading management reporting, unlawful lending, falsifying documents, and false accounting, linked to financial transactions prior to the collapse of Anglo,” according to the Irish Times.
Former CEO of Anglo Irish Bank David Drumm arrives at the Criminal Courts of Justice in Dublin this morning.https://t.co/HE7ojAelSK
— RTÉ News (@rtenews) March 14, 2016
Though prosecutors consider Drumm a flight risk — after all, he seemed to be seeking safe haven inside the United States — the court allowed the ex-banker to post bail under several conditions. Drumm’s passport is currently being held by the Gardaí (Garda Síochána, or Irish Police), and under the bail arrangement, he assured the court he would not apply for another and does not possess a U.S. passport.
Seven of Drumm’s relatives offered to put their houses on the line as ‘security’ for his bail, though the judge only required four names.
As RT reported, Drumm is alleged to have participated in transactions totaling around €7 billion between Anglo and a second lending institution, Irish Life and Permanent. Anglo “posted the worst corporate results in Irish history with losses of €17.5 billion for 2010.”
Drumm came to the United States in 2009, and reportedly refused to cooperate with an investigation. Prosecutors fear his “capacity to marshal significant sums” of money adds to the possibility Drumm could easily disappear.
However, his solicitor argued that in order to better prepare his defense — including sorting through the “millions of documents” and nearly 400 hours of phone conversations — Drumm needed to remain out of prison. As the Times noted, two “books” of evidence will need to be heard by the court — one of which entails bringing 120 witnesses to testify.
The former banking executive has not yet entered a formal plea. He faces a maximum penalty of 10 years in prison if found guilty.
Iceland, and now Ireland, have taken action to hold criminal bankers accountable for their direct role in the economic devastation which enveloped most of the world beginning in 2008 — the exact opposite of what the US does.
As of October, Iceland’s criminal bankers had been sentenced to a combined 74 years in prison — with others awaiting trial. Then, the sale of one of its national banks meant a payout, albeit small, for every Icelandic citizen.
The U.S. notoriously and controversially bailed out its banks — essentially rewarding them, or at least, excusing them for the crisis they created.
Drumm was ordered by the judge to remain in Ireland.
Notably, according to RT, the Irish ex-banker has appealed a U.S. court’s refusal to grant him bankruptcy on over €10 million of debt.
Claire Bernish writes for TheFreeThoughtProject.com, where this article first appeared.
Proud to be of Irish descent, embarrassed to be an american
Me too
Proud to be of Irish descent? Your man above will walk away while people like the family in this picture will pay the price.
GO IRISH – take this scum down.
The sooner the banks fail the sooner there will be thousand years of peace.
Gold collar scum and take back that which he (and all of the scum) have taken.
Don’t get too excited. Nothing’s going to happen….and we taxpayers are busy re-paying what he and the others took.
what your joo kin stole u mean
Too bad there is no death penalty in this case.
The world knows US government is corrupt and Obama is on tv saying Trump will scar America’s reputation! Ha! He already did that along with the Bushes and Clinton’s years ago!
Good for Ireland!! Good to know there is still a justice system in another country besides Iceland. Cheers!
I hate to rain on your parade, but see my post above.
Your post is not showing here – maybe it was too true to be permitted…
It’s there now.
Most of the criminal banksters are Tribe members and just hide in their criminal state of Israel which has no extradition of Tribe members permitted. So as long as they get advance warning, and that is very likely with their networks of ‘sanyanim’ (sp?), they are virtually untouchable.
I say it is a good START !! 🙂
Its only a good start when the LOT of them are at the bottom of the ocean!
Economic Hit Men: The scum always rises to the top
The number thirty three is instructive, humanity’s Protocol destructive, the masonic hand via the Tribal band lets their chosen ones scot free leave the stand.
If these cockroaches are not stopped things are certainly on track to get worse. Anyone to believe otherwise is foolish; and thats putting it nicely. What to do, Eagle? I know one thing we don’t need this filth running and ruining our lives! The laws that keep coming handed down in Australia are totally wrong. New law the other day handed down was towards protesting our rights! Massive fines and imprisonment! They are shutting us down and doing it with a smile. How people can just sit back and set their children up for this kind of future is disgusting. Im not even sure a peaceful solution exists either? I wish there was, however, they will mow us down on the streets if need be. Thats how much they need to stay in control. I have NO DOUBT it will come to this. They dont listen to the small stuff as it is. Now, they just do as they please and draw up new laws to reach those ends and keep us occupied on useless crap like gay marriage. Its the number one topic here atm! Meanwhile our economy is heading south and large job losses daily. This not going to end well for any of us; including the cockroaches. Because, what goes around will ALWAYS come around. Universal LAW will have the last say…
The canyon never fails those that set their heart sail, free from the mindless travail
Brett, a fully enlightened one living amongst the comatose, as ye be, a challenge and an opportunity, as I well see, a place where so many, friends and family too, can’t, nay, won’t believe that the sand is running well near its last granule, their hour glass never came with a manual, whilst for those free of the hooks of the matrix melee can at least appreciate what could be, if only, now there be near no place to hide, so to speak, LGBTQI feminista agenda freaks, tall trees with guillotines too good for these dark side Bolshevik creeps, Cosmic Catch-up, as you say, will when ready, have its day, until then, I have my sights set on a land abundant, population minimal, just across the border from the Cape Point terminal.
And a childhood friend (from birth, circa back in wild Durban daze, one Danville house away), has set his stall over yonder your end, two children studying there, the last in just a few years, and they’ll all be Australia ‘fair’, whilst the hidden hand band tightens their grip, how many more clues, freedom just another word for nothing left to lose.
Never give up, never give in, set your controls for the heart of the sun and let your motors magnificently run, shut-in so many be, Padraigin chooses free, Eternally.
Enjoy the song, I’m sure you will.
https: // www. youtube. com/watch?v=Kjz59cnvzJg
Thats a beauty, mate!
The Hildebeast Monologues: Sure, yes, definitely, why not!
Amerika, the home of the “completely lost their minds”, coming to a theatre of war in no time
https: //www. youtube. com/watch?v=oKosd0xJadE&feature=youtu. be
Ten years, is that enough? I don’t think so, we have people in prison for a lot more than that for smoking a joint and never hurting anyone.
Well said, Sandra. I feel your anger too!