Ir­ish ex-bank chief ex­tra­dited from US to face 33 charges

The Pak Banker - - FRONT PAGE -

A for­mer top bank chief re­turned to Ire­land on Mon­day af­ter be­ing ex­tra­dited from the United States to face 33 charges over a fi­nan­cial col­lapse that cost the Ir­ish state 30 bil­lion euros ($33 bil­lion).

David Drumm, the ex-chief ex­ec­u­tive of An­glo Ir­ish Bank, ap­peared in court for the first time as he awaits pos­si­ble trial on a se­ries of al­le­ga­tions in­clud­ing false ac­count­ing and fraud dat­ing back to 2008 and 2009.

He is ex­pected to be re­leased on bail on Tues­day but will have to spend the night be­hind bars un­til the pa­per­work for his ap­pli­ca­tion has gone through.

As part of his bail con­di­tions, he will have to visit his lo­cal po­lice sta­tion twice a day, sur­ren­der his pass­port and pay a surety of 50,000 euros. Drumm's lawyer Michael Staines said his client wanted to "stay here and deal with this case and then re-start his life" and did not rep­re­sent a flight risk.

Drumm left Ire­land shortly af­ter the col­lapse of An­glo Ir­ish Bank, which the govern­ment was forced to bail out in 2009 to avoid a wider eco­nomic fall­out. He had been liv­ing in Bos­ton since 2008. The for­mer banker, who de­nies any wrong­do­ing, has spent the last five months in a max­i­mum se­cu­rity prison in Mas­sachusetts.

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