The wait­ing game for guilty Drumm

State’s big­gest fraud­ster counts down days un­til sen­tence hear­ing con­victed: David Drumm walks to the BMW car parked out­side his home on Thurs­day, the morn­ing af­ter he was found guilty of mas­sive fraud

The Irish Mail on Sunday - - NEWS - By Valerie Han­ley By and valerie.han­ley@dai­ly­

DIS­GRACED banker David Drumm’s wife Lor­raine bought a €400,000 home – mort­gage-free – just months af­ter they re­turned to Ire­land to face his fraud and false ac­count­ing trial.

The con­victed fraud­ster is cur­rently liv­ing in the lux­ury sea­side prop­erty in the scenic north Co. Dublin town of Sk­er­ries await­ing sen­tence af­ter his con­vic­tion this week.

The Irish Mail on Sun­day can also re­veal that be­fore the mam­moth trial, the 51-year-old fa­ther of two has en­joyed a rel­a­tively lux­u­ri­ous life­style fre­quently din­ing out with friends and fam­ily in seafood and Ital­ian restau­rants around the cap­i­tal.

The for­mer An­glo Irish Bank boss went to court seek­ing to have his bail con­di­tions re­laxed so he could go on reg­u­lar hol­i­day.

This week the bank boss – who rev­elled in been called The Drum­mer while CEO of the for­mer An­glo Irish Bank – was con­victed of con­spir­acy to de­fraud and false ac­count­ing to make the bank’s fi­nan­cial state look health­ier than it was in 2008.

The case cen­tred on the back and forth move­ment of €7.2bil­lion from Irish Life and Per­ma­nent to An­glo Irish Bank. The jury of nine men and three women de­liv­ered its ver­dict af­ter 10 hours and 32 min­utes and it is ex­pected the for­mer banker will be given a cus­to­dial sen­tence when he ap­pears at a sen­tenc­ing hear­ing on June 20. None of his fam­ily were present when the jury de­liv­ered its ver­dict af­ter the 16-week trial. In­ves­ti­gat­ing gar­daí, who pieced to­gether the case against Drumm, warned trial Judge Karen O’Con­nor that Drumm was a ‘flight risk’. How­ever, he was granted bail as long as he con­tin­ues to sign on once a day at a Garda sta­tion just a ten-minute drive from the seafront home in Sk­er­ries. Drumm’s le­gal team told the court the banker should be bailed on ‘hu­man­i­tar­ian’ grounds be­cause his wife was in Amer­ica at a col­lege grad­u­a­tion of one of their adult daugh­ters.

But it seems that since be­ing con­victed on Wed­nes­day, the only time Drumm has ven­tured out has been to sign on at the nearby Garda sta­tion in Bal­brig­gan.

Ac­cord­ing to the pub­lic prop­erty reg­is­ter the house was bought in Au­gust 2016 for €418,502 and his wife Lor­raine was reg­is­tered as the full owner in May of last year.

It would ap­pear that it was a cash deal as no mort­gage is at­tached to the three-storey town­house which has stun­ning views.

This week­end a pair of high spec BMW ve­hi­cles were parked on the drive­way. It seems the dis­graced bank boss prefers the com­fort of a 141 Six Se­ries BMW sa­loon, which costs about €100,000 new, whereas it ap­pears his wife Lor­raine’s car of choice is a 152 BMW four-wheel drive.

And they both have opted to have tinted glass car win­dows in or­der to pro­tect them­selves from any stray­ing or pry­ing eyes.

A lo­cal revealed: ‘The Drumms are very con­cerned about se­cu­rity which is most un­usual around th­ese parts and we have all seen them driv­ing around in blacked-out BMWs.

‘David and Lor­raine both grew up in Sk­er­ries and dur­ing the good times when he was fly­ing high you wouldn’t see them around the place much at all.

‘Sk­er­ries wasn’t good enough for them it seemed and you can still see Lor­raine walk­ing around with a bit of a stuck-up at­ti­tude.

‘He’s not much bet­ter. When he came back from Amer­ica he was go­ing into the shops in­tro­duc­ing him­self to shop­keep­ers as if he was some sort of celebrity.

‘He was go­ing up to lads he went to school with, even though he hadn’t spo­ken to them for years, and telling them what an aw­ful time the black pris­on­ers gave him when he was in cus­tody in Amer­ica.

‘Some peo­ple would shake his hand but oth­ers would just walk out of the pub when they saw him com­ing in. They couldn’t be­lieve the brass neck of him. It’s some come­down for him now.’

Drumm was im­pas­sive when the two guilty ver­dicts were de­liv­ered at the Cen­tral Crim­i­nal Court on Wed­nes­day af­ter­noon.

But ac­cord­ing to friends, both he and his fam­ily are dev­as­tated by the con­vic­tion and the prospect of the banker serv­ing time in prison.

One as­so­ciate told the IMoS: ’I

‘We’re all pay­ing for what he did... some lost lives’

was talk­ing to one of his fam­ily and they said that it was cruel.

‘I re­ally didn’t know what to say to that. We are all pay­ing for what was done and some peo­ple have even lost their lives over the bank crash.’

The Drumm case was the most high-pro­file white col­lar crime case ever pros­e­cuted and he was con­victed ten years af­ter com­mit­ting the of­fences.

The case could have come be­fore the courts sooner if he had stayed in Ire­land af­ter the crash.

It was the MoS that revealed in July 2009 – six months af­ter he re­signed as An­glo Irish Bank’s CEO – that Drumm had moved per­ma­nently to the US.

Af­ter a painstak­ing in­ves­ti­ga­tion by gar­daí, 33 war­rants were is­sued in 2014 and he was ar­rested in Bos­ton in Oc­to­ber 2015. He ini­tially fought ex­tra­di­tion but was sent home to stand trial in 2016.

2016: David and Lor­raine Drumm in US

2009: How the Irish Mail on Sun­day revealed Drumm’s move to the US

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