{"id":143901,"date":"2018-06-20T16:02:49","date_gmt":"2018-06-20T16:02:49","guid":{"rendered":"http:\/\/freeonlinetranslators.net\/news\/english\/former-anglo-boss-sentenced-to-six-years-in-jail\/"},"modified":"2018-06-20T16:02:49","modified_gmt":"2018-06-20T16:02:49","slug":"former-anglo-boss-sentenced-to-six-years-in-jail","status":"publish","type":"post","link":"https:\/\/freeonlinetranslators.net\/news\/english\/former-anglo-boss-sentenced-to-six-years-in-jail\/","title":{"rendered":"Former Anglo boss sentenced to six years in jail"},"content":{"rendered":"<figure>                                  <img decoding=\"async\" alt=\"David Drumm\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/0F5C\/production\/_102123930_daviddrumm.jpg\"\/>Image copyright                  Getty Images<figcaption>Image caption                                      David Drumm moved to the US in 2009 but was extradited in 2016                              <\/figcaption><\/figure>\n<p class=\"caps\">Former Anglo Irish Bank chief executive David Drumm has been sentenced to six years in jail.<\/p>\n<p>He was sentenced on Wednesday at the Dublin Criminal Court. <\/p>\n<p>The ex-banker was found guilty earlier in June of authorising a \u20ac7.2bn (\u00a35.4bn) conspiracy to defraud and of false accounting.<\/p>\n<p>Drumm had pleaded not guilty to conspiring to dishonestly make Anglo&#039;s balance sheet look better between March and September 2008. <\/p>\n<p>He also denied knowingly giving false figures to the market that December.<\/p>\n<h2>Celtic Tiger collapse<\/h2>\n<p>Anglo Irish, which was nationalised in 2009 and wound down from 2011, was synonymous with the lending practices that drove the &#039;Celtic Tiger&#039; boom and subsequent bust, pushing the Republic of Ireland to the brink of meltdown in 2010.<\/p>\n<p>Mr Drumm moved to the US in 2009 but was extradited in 2016.<\/p>\n<p>Judge Karen O&#039;Connor said that people were entitled to trust their banks and this was grossly reprehensible behaviour.<\/p>\n<p>She said Drumm was in a position of trust in the bank.<\/p>\n<h2>Analysis: Shane Harrison, BBC NI Dublin Correspondent<\/h2>\n<p>David Drumm&#039;s legal team accepted before sentencing that he would get a jail term.<\/p>\n<p>Once the poster boy of Irish banking, Anglo-Irish Bank is expected to cost the Irish taxpayer up to \u20ac30bn (\u00a326.3bn) over the coming years.<\/p>\n<p>Ireland&#039;s banking-related property crash destroyed both lives and livelihoods.<\/p>\n<p>The three other men convicted on similar charges got between two and three and a half years behind bars.<\/p>\n<p>So, there is some surprise, but little sympathy for Drumm, the main mover behind the fraud, with his six year jail term. <\/p>\n<p>The passage of time may have blunted some of the anger people felt about Anglo, but far from all of it.<\/p>\n<figure>                                                                                                       Image copyright                  PA<figcaption>Image caption                                      David Drumm is a former chief executive of Anglo Irish Bank                              <\/figcaption><\/figure>\n<p>Judge O&#039;Connor sentenced him to six years and ordered that he would get credit for the five months he had spent in a prison in Boston, before being extradited to Ireland in March 2016.<\/p>\n<p>She said that she felt &quot;the appropriate headline figure is eight years imprisonment in relation to both counts&quot;, but ordered that he serve a six-year sentence after considering mitigating factors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty ImagesImage caption David Drumm moved to the US in 2009 but was extradited in 2016 Former Anglo Irish Bank chief executive David Drumm has been sentenced to<\/p>\n","protected":false},"author":1,"featured_media":143902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-143901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english"],"_links":{"self":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/143901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/comments?post=143901"}],"version-history":[{"count":0,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/143901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media\/143902"}],"wp:attachment":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media?parent=143901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/categories?post=143901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/tags?post=143901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}