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Thursday, February 25, 2021

Former CEO of Anglo Irish Bank ‘David Drumm’ released from prison

Former Chief Executive Officer of Anglo Irish Bank ‘David Drumm’ has been released from prison after serving two years and eight months in Loughan House in Co Cavan.

In June 2018, Drumm was sentenced to six years in prison for his role in a €7.2 billion banking fraud. He served the first few months of his six-year sentence in Mountjoy Prison before he was transferred to Loughran House.

The 55-year-old also served a further five months at a prison in the United States before being extradited to Ireland. An 87-day trial concluded that he was guilty of false accounting and conspiracy to defraud.

This conviction resulted in his expulsion from the Chartered Accountants Ireland and he was also fined €15,000.

He was released from prison on a Community Release Scheme in return for doing community service and will be supervised by the Probation Service.

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