Anglo Irish ‘sought millions in support as financial crisis hit’ - News Summed Up

Anglo Irish ‘sought millions in support as financial crisis hit’


Matt Cullen, a senior manager at Anglo Irish Bank's treasury department in 2008, has denied conspiring to mislead investors by using interbank loans to make Anglo appear €7.2 billion more valuable than it was CollinsThe former head of treasury at Anglo Irish Bank has described hand delivering a letter to the Central Bank requesting more than €1 billion in emergency funding on the evening of September 29, 2008. Matt Cullen was giving evidence at the trial of David Drumm, who is accused of involvement in a conspiracy to defraud €7.2 billion between March and September 2008. “We were short of funding that day and we saw we didn’t have the cash to make payments the following morning,” he told Paul O’Higgins, SC, for the prosecution. Mr Drumm, 51, with an address in Skerries, Co Dublin, has pleaded not guilty to conspiring with former bank officials Denis Casey, Willie McAteer, John Bowe and others to defraud depositors and investors at…


Source: The Times February 14, 2018 00:02 UTC


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