Guilty - former Anglo director from Donegal pleads guilty to €8 million loan fraud

Staff Reporter

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Staff Reporter

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sue.doherty@donegaldemocrat.com

Guilty - former Anglo director from Donegal pleads guilty to €8 million loan fraud

Willie McAteer

Willie McAteer, former finance director of Anglo Irish Bank and a native of Rathmullan, pleaded guilty at Dublin Criminal Court this morning to fraud in obtaining a €8,426,307 loan from the bank on September 29,2008.
The exact charge is that, on that date, in breach of section 297 of the Companies Act 1963, he was knowingly a party to the carrying on of the business of a company, for a fraudulent purpose, the granting of Anglo Irish Bank Corp plc of a loan to himself of €8,426,307, secured solely by his shares in Anglo, in order to discharge a personal loan he had with Bank of Ireland. Mr McAteer, according to the indictment, thus made a personal gain while causing a loss to Anglo.
He was due to stand trial in January.
Judge Melanie Greally remanded Mr McAteer on continuing bail to January 17 for sentencing.