Ir­ish bankers jailed

Weekend Argus (Saturday Edition) - - NEWS -

DUBLIN: Three se­nior Ir­ish bankers have been jailed for up to three-and-a-half years for con­spir­ing to de­fraud in­vestors in the most prominent pros­e­cu­tion aris­ing from the 2008 bank­ing cri­sis that crip­pled Ire­land’s econ­omy.

The lack of con­vic­tions un­til now has an­gered Ir­ish tax­pay­ers, who had to stump up € 64 bil­lion af­ter a prop­erty col­lapse forced the big­gest state bank res­cue in the euro zone.

For­mer Ir­ish Life and Per­ma­nent chief ex­ec­u­tive De­nis Casey was sen­tenced to two years and nine months fol­low­ing the 74-day crim­i­nal trial, Ire­land’s long­est ever.

Wil­lie McA­teer, for­mer fi­nance direc­tor at the failed An­glo Ir­ish Bank, which was na­tion­alised in 2008, and John Bowe, its ex-head of cap­i­tal mar­kets, were given sen­tences of 42 months and 24 months re­spec­tively.

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