June 20, 2018 / 3:36 PM / 3 months ago

Former Anglo Irish Bank CEO given 6-year prison sentence for fraud

DUBLIN, June 20 (Reuters) - The former chief executive of the failed Anglo Irish Bank, David Drumm, was sentenced on Wednesday to six years in prison for false accounting and for conspiring to defraud depositors and investors during Ireland’s banking crisis a decade ago.

Drumm, 51, had pleaded not guilty to charges of dishonestly creating the impression that deposits at the lender were 7.2 billion euros larger than they actually were in 2008 when the country’s banks began to get into trouble.

“I am of the view that the appropriate headline figure is 8 years imprisonment in relation to both counts. Taking into consideration the mitigating factors, this court is going to impose a sentence of six years imprisonment,” Judge Karen O’Connor said.

Drumm will also receive credit for the five months he spent in jail in the United States awaiting extradition, she said.

Reporting by Conor Humphries, editing by Padraic Halpin

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