McAteer in court on alleged €7.2bn fraud conspiracy

Former Anglo Irish Bank executive Willie McAteer. Photo:  Brian Lawless/PA Wire

Former Anglo Irish Bank executive Willie McAteer. Photo: Brian Lawless/PA Wire

Willie McAteer, former chief financial officer of Anglo Irish Bank, has been charged with allegedly conspiring to mislead investors with €7.2 billion funds transfer.

The Irish Times reports that he was arrested at 9am on Tuesday morning outside the Bridewell Garda station in Dublin.

The Rathmullan native, whose address was given as Greenrath, Tipperary Town, Co. Tipperary, was brought before a District Court judge at the Criminal Courts of Justice in Dublin to face two charges.

Three others have already been charged in relation to the alleged fraud: Anglo’s former head of capital markets, John Bowe; the former chief executive of Irish Life and Permanent, Denis Casey; and Irish Life and Permanent’s former director of finance Peter Fitzpatrick.

The four men are accused of conspiring to mislead Anglo’s investors regarding €7.2 billion transferred between Anglo Irish Bank Corporation plc and Irish Life & Permanent plc and Irish Life Assurance, from March to September 2008. It is alleged that this was to give the impression that Anglo had more deposits than was the case.

Mr Bowe and Mr McAteer are also each charged with allegedly falsifying accounts contrary to section 10 of the Theft and Fraud Act.

None of the accused, who will now go to trial at Dublin Circuit Criminal Court, have indicated how they will plead.

Mr McAteer was granted bail, with his wife Maria providing independent surety of €10,000.


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