Financial Services

More time for State to prepare its case against bankers

Three accused of transferring €7.2bn to Anglo to give impression it had larger deposits

Former chief executive of Irish Life and Permanent, Denis Casey (54), from Raheny, Dublin, leaving court yesterday. Photograph: Collins

Tom Tuite
Thu Mar 13 2014 - 01:00

A judge has allowed the State extra time to prepare books of evidence in a case against three former bankers accused of transferring €7.2 billion to Anglo to give investors the impression it had larger deposits.

The three defendants are: John Bowe (50), Glasnevin, Dublin, Denis Casey (54), Raheny, Dublin, who was chief executive of Irish Life and Permanent (IL&P) until 2009, and Peter Fitzpatrick (61), Malahide, Co Dublin, IL&P's former director of finance.

They are accused of conspiring to mislead Anglo Irish Bank investors in relation to €7.2 billion transactions, between March 1st and September 2008. Mr Bowe, who had been head of capital markets at Anglo Irish Bank, also faces a charge that on December 3rd, 2008, he falsified accounts contrary to section 10 of the Theft and Fraud Act.

John Bowe (50), of Glasnevin, Dublin, leaving court on Wednesday. Photograph: Collins Courts.

Former director of finance for Irish Life and Permanent Peter Fitzpatrick, from Malahide, Dublin, leaving court on Wednesday. Photograph: Collins Courts


Books of evidence
They had been charged last December following their arrest by detectives from the Garda Bureau of Fraud Investigation and were granted bail by Dublin District Court on the same day, pending the preparation of books of evidence.

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The Director of Public Prosecutions has already directed that they are to face trial on indictment, meaning their case will go before a judge and jury at Dublin Circuit Criminal Court.

Yesterday, State solicitor Pádraig Mawe told Judge Michael Walsh that the books of evidence were not ready and he asked for the case to be adjourned until May 1st.

Defence solicitors Michael Hanahoe, Dara Robinson and Michael Hennessy said there was consent to the case being put back for a longer period to ensure the prosecution’s books of evidence will have been completed and will be ready to be served at their clients’ next hearing.


Continuing bail
Judge Walsh agreed and remanded the three men on continuing bail to appear again in mid-June when it is expected the evidence will be handed over to them and they will be returned for trial.

Mr Mawe also reminded the court yesterday that this case had no factual connection with the ongoing trial of other former Anglo executives.

A bail condition states they must sign on regularly at their local Garda station.

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