Anglo fraud trial jury to reconvene tomorrow

Sean FitzPatrick

The jury in a fraud trial of three Anglo Irish Bank directors over a multimillion loans-for-shares scheme have not reached a verdict after two full day’s deliberation.

Sean FitzPatrick (aged 65) from Greystones, Co Wicklow, Pat Whelan (aged 51) of Malahide, Co Dublin, and William McAteer (aged 63) of Rathgar, Dublin, all pleaded not guilty to providing unlawful financial assistance to a hand-picked group of clients in July 2008 to buy shares.

Dublin Circuit Criminal Court has been told the €619m plot was concocted to stabilise Anglo’s share price as it tanked on markets.

The stock had originally been bought up in secret trades by industrialist and now-bankrupt Sean Quinn in a €2.4bn doomed gamble on the bank.

It is alleged money was lent to a select group of Anglo clients known as the Maple 10 and members of the Quinn family to buy up the holding.

The jury were today given access to transcripts of evidence from two bankers given immunity in the case, former Anglo directors Matt Moran and Fiachre O’Neill.

The 12 jurors – selected by ballot from a panel of 14 – went out on Friday afternoon and have completed two full days deliberation, about 11 hours in total.

They will resume deliberations tomorrow morning at 10.30am.

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