This morning.

Central Criminal Courts, Dublin.

Former Anglo Irish Bank Chief Executive David Drumm on his way into the Criminal Courts of justice for his sentencing today after he was found guilty on two counts of fraud.

Previously: He Fiddled The Moolah

Sam Boal/RollingNews

Update:

Drumm Sentenced To Six Years For Fraud (RTÉ)

69 thoughts on “The Price

      1. Bertie Blenkinsop

        “You are an habitual criminal who accepts arrest as an occupational hazard and presumably accepts imprisonment in the same casual manner.”

        1. Brother Barnabas

          “Are you now or have you at any time been a practicing homosexual?”

          out of context, i know – but will never not amuse me

        2. The Old Boy

          “Suffer from any illness?”
          “Bad feet.”
          “Suffer from any illness?”
          “Bad feet!”
          “Paid a recent visit to a doctor or hospital?”
          “Only with my bad feet.”
          “Are you now or have you at any time been a practicing homosexual?”
          “What, with these feet?”

  1. postmanpat

    Judge: “Two weeks community service..no… make that…. one week.” Defense: “But..our client has a aversion to physical labour.” Judge: “Okay then, If you say so. No community service.” Defense: “Ahem …. can you get the state to cover the legal costs too , I mean I know we lost but it wasn’t us who started these legal proceedings…..?” Judge: “okay then . even though your client was found guilty ..I suppooooose we can pay the legal costs… this time.. now get out of here ya scallywags! “. Defense : “Cheers J! ” Drumm: “now that’s what I can getting out of a sticky situation!! ” (Everyone laughs ) (Theme to the golden girls “thank you for being a friend..” starts playing) end credits.

    1. johnny

      what would you like him to get ?

      it was a show trial the guys a chump.

      no sign that decision in the contempt case, over the tapes against INM,still redacted on courts.ie !

      1. Martco

        if we had a system capable of dealing correctly with white collar CRIME I’d say 12-15 years in prison, you know like how other bank robbers routinely receive, which he could have mitigated to some degree by plea bargain thus ensuring other rats could share the punishment

        1. Johnny

          When was the last time a bank was robbed in Ireland-by a “bank robber” ?
          The shoot to kill policy by the Guards took the risk/reward out that years ago,not prison,it’s either a tiger kidnapping or armored cars-but the risk reward again is outta whack-everyone pivoted into the way more lucurative drugs business.
          Stupid analogy,out of date by years.

          1. Martco

            12-15 years is what he should receive as a sentence

            but we all know he won’t

            he’ll serve 3 in comfortable surroundings irrespective

            white collar CRIME is prosecuted poorly in this little country of ours

          2. johnny

            Will find out at 3 pm-the irony of it all is the he was a working class guy,who left school at 16,mums a hairdresser,dad a truckdriver,great husband and dad.
            There’s a concept called the ‘peter principal’ whereby someone is promoted way over their heads and controlled by typically a founder/large shareholder (see INM).

            David was a classic example of The Peter Principal,he’s basically not the sharpest tool in the toolbox,but an excellent salesman.He singlehanded with a desk and a telephone built Anglo’s US book to 10 BIllion-it was the best performing part off the bank and sold quickly at a great price.He believed that the Irish owned and run Anglo could become a major international bank.

            At the end in US his only friends were in the republican/nationalist community in NY/Boston who welcomed him,gave him a job and looked out for him

            He was shunned by the American Ireland crew who he had lent millions to and most of his clients turned their backs on him.

            Best off luck to David.

            “It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena….

    1. mildred st meadowlark

      How many knobs did he grease to get that I wonder?

      Too crass? Possibly. But they’ve earned it.

      1. File Under Cake

        I heard he was big into baking in prison kitchen service and he’s setting up a bakery now he’s out.

  2. Liam Deliverance

    David Drumm was the Chief Operating Officer, the guy at the top, paid hundreds of thousands of Euro a year to make good decisions based on his training and experience, he eschewed all that in favour of making dirty quick money and at the same time putting the economy of his own country in severe jeopardy.

    10 years on can anyone put a figure on the what he cost us, the damage to society, the pain and suffering caused to thousands.

    I hope the sentence reflects that and no excuses that he was just one person amongst many.

    1. johnny

      if he was such a genius why did he take out a loan form Anglo to buy shares in Anglo that ended up bankrupting him-duh !
      he. cost YOU sweet FA-that decision was NOT his.

      1. Cian

        It depends. FF decided to bail out all the banks – including Anglo. The others have been successfully rehabilitated, Anglo was a complete mess. Anglo cost the taxpayers tens of billions.
        If FF had known the truth about Anglo – they may not have included them in the guarantee.

        1. johnny

          successfully rehabbed-is that why you defended them gouging borrowers, you said prior it was due to legacy lending ?
          rehabbed my ass,try getting a loan to build some houses.
          the walking dead-AIB is a joke off a bank-NAMA has team shredding EVERYTHING !
          Anglo wasn’t a ‘bank’ in the conventional sense, should have been allowed fail.

          1. johnny

            heres the savior heralded as the messiah in govt circles,exposed as all lies and BS,his net worth consists of the profits from BofI that the incompetent ejects panicked and sold him dirt heap.

            “Wilbur Ross is not known for telling the truth. On a Sunday afternoon last fall, just back from a trip to Asia, Ross called Forbes to lie about his personal fortune. Forbes had listed the commerce secretary on its billionaires rankings for years, but his financial disclosure report revealed less than $700 million in assets. When pressed about the discrepancy, Ross calmly cited more than $2 billion in undisclosed assets, saying he had shifted a chunk of his fortune to a trust for his family.”

            https://www.forbes.com/sites/danalexander/2018/06/18/lies-china-and-putin-solving-the-mystery-of-wilbur-ross-missing-fortune-trump-commerce-secretary-cabinet-conflicts-of-interest/#31e41bb07e87

        2. Andrew

          “If FF had known the truth about Anglo ”
          Indeed, if only they had known Cian. It’s an awful pity it wasn’t mentioned on the golf course a few weeks prior when Cowen met Sean Fitzpatrick. Must have slipped his mind.

          1. johnny

            PTSB is a model of rehab too-what’s happening with Fingers, lender too many TD’s,RTE stars and well know personalities.
            Its a dead institution,the govt should shut it down instead extending and pretending that its been rehabbed.

          2. Cian

            oops. I forgot about PTSB – they were a basket case.

            Either way – all the banks lied to Lenahan on that infamous night. But BOI and AIB at least had a reasonable business model that could be saved. The others, less so.

          3. johnny

            the banks negotiating strategy….worse the dopes believed it !
            Cheer up, Brian. You know what they say:
            Some things in life are bad.
            They can really make you mad.
            Other things just make you swear and curse.
            When you’re chewing on life’s gristle,
            Don’t grumble. Give a whistle.
            And this’ll help things turn out for the best. And…

    2. Andrew

      Indeed he was at the top. But if we were talking about things that cost us and who is responsible, the bank guarantee was a bigger deal. ‘The cheapest bailout’ uttered by an arrogant minister who didn’t bother to read reports and had little understanding of the situation.
      Auditors, regulators, ministers in government, are as culpable and some of these are being still asked to give their opinion on tax payer funded RTE.
      I won it on the horses FFS!
      Arguably an even bigger deal which actually makes up most of our deficit was benchmarking, something we will be forever paying for.

      1. george

        David Drumm put massive pressure on the government to save the banks. Drumm is majorly responsible for the bail out. Listen to the recordings. He talks about going to the government and telling them to “give us the f***ing money”.

        Stop defending him, he got less than he deserved.

        1. Andrew

          I wasn’t defending him, I’d have given him 25 years. I am just pointing out that there are others, elected representatives that have lied, that should be prosecuted and are living off their generous pensions now.

      1. Martco

        yep, that’s my reckoning
        3 actual years
        all spent in the “training unit” where apart from being in relative comfort he’ll get to take that nice degree he’s always fancied

      1. Not On Your Nelly

        I’m not a practicing judge or solicitor. Thanks for asking. The comment section was open, thought I would try my hand at some commenting. God bless.

          1. Not On Your Nelly

            I was also doing a fun time comment. Along with the first one I made. And now this one is fun. Kappa for context.

          2. Yep

            Well as long as we’re all having fun! Don’t take anything I post serious. That would be the real injustice

    1. CoderNerd

      Via Tom Lyons, @TomLyonsBiz
      1m1 minute ago

      “David Drumm gets 8 years for both counts. Will serve six years after considering mitigating factors for both counts.”

      So are you both right?
      I think a fight to the death is the only way to solve this. Cue the Kirk Vs Spock fight music.

  3. Catherine costelloe

    He was very unfortunate papers weren’t shredded in his case unlike pipsqueak Seanie Fitzspatrick. He can write a potential bestseller yet on the whole debacle during his stretch. Titled “Payback” .

      1. Topsy

        No, he was working for the state, so take whatever you like from that.
        Drum the scum just got a 6 yr sentence.

    1. Daisy Chainsaw

      Minus the time spent in prison in Boston (5.5years)
      Minus time off for good behaviour
      Minus time off for being one of the golden circle

      He’ll be golfing by teatime and get compensation for his pain and suffering.

      1. Martco

        another crap sentence

        like I’d love to know what exactly would a cheating banker have to do to to get the 10 years? It’s hard to imagine how much worse it would have to be. any ideas anyone??

        1. Cian

          I wondered that too. And then it occurred to me that if he was cheating for personal gain then the sentence may have been longer

    2. kellma

      TBH I was a bit shocked he got any time… yes it’s pathetic and yes he won’t see half of it but I was still a bit taken aback at the 6 years. I have learned to lower my expectations BIG TIME when it comes to reasonable sentencing in this country.

  4. Andrew

    I was really hoping he would sing like a canary and produce evidence of his own about who knew what and when.

  5. realPolithicks

    Six years is a joke when you consider the damage done by his actions, and giving him time off for time spent in prison in the US while fighting extradition to Ireland, its ridiculous.

    1. mildred st meadowlark

      Because he didn’t commit a ‘real’ crime, like not paying his TV license.

    2. Topsy

      Ye, pparently the 5 months he spent FIGHTING extradition to Irl was a mitigating factor.

  6. Hors

    This story was posted at 4.23pm. Why are at least half the comments hangovers from the earlier post this morning, which I had already read, but now have had to read again?

    1. Spaghetti Hoop

      Unless you’ve moved to Wexford and dial-up delivers it tomorrow so you can read it all afresh.

Comments are closed.