Former director of finance at Anglo Irish Bank Willie McAteer outside the Circuit Criminal Court in Dublin in 2014

Further to former Anglo Irish Bank director of finance Willie McAteer pleading guilty to fraudulently obtaining a loan for more than €8m from the bank on September 29, 2008.

RTE reports:

Former director of finance at Anglo Irish Bank Willie McAteer has been sentenced to two-and-a-half years for fraudulently obtaining a loan of more than €8m from the bank in September 2008.

The sentence will run concurrently with the three-and-a-half year sentence McAteer is already serving for his part in a €7.2bn conspiracy to defraud, by misleading people about the true health of Anglo.

…On 29 September 2008, Anglo’s share price fell so low that Bank of Ireland was entitled to sell McAteer’s shares without notice.

McAteer informed Anglo that the bank was concerned that the sale of so many shares by a director of Anglo could have had a catastrophic effect.

Anglo decided to give McAteer a loan of more than €8m to pay off Bank of Ireland.

The court heard McAteer did not seek it and did not devise its terms but accepted the loan.

McAteer sentenced to 2.5 years for loan fraud (RTE)

Previously: A €3,000 Fine

Sasko Lazrov/Rollingnews