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Former Anglo finance director sentenced

William McAteer Photo:  Niall Carson/PA Wire

William McAteer Photo: Niall Carson/PA Wire

The Donegal man who was found guilty of giving illegal loans to investors in Anglo Irish Bank has been sentenced to 240 hours of community service.

William McAteer, a former finance director in the bank, was convicted in April along with former director of lending in Ireland Patrick Whelan.

The two men were convicted in April of giving the illegal loans to ten customers of the bank in 2008.

Judge Martin Nolan sentenced them each to 240 hours of community service to be completed within the next year.

The men were found guilty of giving illegal loans to the ‘Maple Ten’ developers, but they were found not guilty of illegal lending to members of the Quinn family.

The judge had said in April that he felt it would be unfair to imprison either man as he believed the Financial Regulator “led them into error and illegality” by giving them the green light.

 

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