April 29, 2014 / 3:21 PM / in 4 years

Ex-Anglo Irish bankers avoid jail over illegal lending

DUBLIN, April 29 (Reuters) - An Irish judge said on Tuesday he would not jail two former senior executives at Anglo Irish Bank who were convicted on charges of illegal lending and providing unlawful assistance to investors.

Former finance director Willie McAteer and the bank’s head of Irish lending, Pat Whelan, are not deserving of prison sentences because they were given inaccurate advice by Ireland’s financial regulator that had led them into law-breaking, Judge Martin Nolan told Dublin’s Circuit Criminal Court.

The two were found guilty earlier this month on charges of illegal lending and providing unlawful assistance to investors with each charge carrying a maximum sentence of five years, a 3,000 euro fine or both. No senior Irish banker has been jailed since Ireland’s financial crisis began in 2008. (Reporting by Sarah O‘Connor; Writing by Conor Humphries; Editing by Mark Heinrich)

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