A former Anglo Irish Bank executive, John Bowe, told gardaí that he had only a peripheral awareness of a billion euro deal with Irish Life & Permanent (ILP) in September 2008, a trial has heard.

Four former executives from the two banks are on trial at Dublin Circuit Criminal Court for allegedly conspiring to mislead investors by setting up a €7.2 billion circular transaction scheme to bolster Anglo’s balance sheet.

The jury also heard a claim Anglo Irish would have collapsed in September 2008 if it had not received emergency funding from the Central Bank before it opened for business the next day.

Mr Bowe (52) from Glasnevin, Dublin; Willie McAteer (65) of Greenrath, Tipperary town, Co Tipperary; Denis Casey (56), from Raheny, Dublin; and Peter Fitzpatrick (63) of Convent Lane, Portmarnock, Dublin have all pleaded not guilty to conspiring together and with others to mislead investors through financial transactions between March 1st and September 30th, 2008.

On day 61, the 13-strong jury heard details of witness statements made by Mr Bowe to investigators from the Garda Bureau of Fraud Investigation. Mr Bowe, who was head of capital markets with Anglo in 2008, told investigators into the ILP deals that he did not think the transactions were wrong, just “large and unusual”.

The trial continues.