Former Anglo Irish Bank chief executive David Drumm engaged with others in a €7.2 billion “con” in which dishonest information was reported to the market, his trial has heard. Counsel referred to a recorded phone call of September 29th, 2008 between Mr Drumm, Mr McAteer and Mr Bowe. Mr Drumm replied that “a f***ing journal entry would do it a lot quicker” and Mr McAteer later commented “very good journal entries”. He said that the Central Bank came to Mr Drumm during the global financial crisis and asked him and others to “tog out for Ireland”. He said Mr Drumm did his best in good faith in the circumstances which arose.

Source: The Irish Times May 24, 2018 14:26 UTC