Anglo verdict: Prosecution wanted ‘green jersey’ agenda removed

Judge ruled it would not be right or practical to try to stop the jury hearing about the issue in the course of other testimony

Advice from the Financial Regulator that the Irish banks should enter into a secret “green jersey” agenda to help each other get through the 2008 financial crisis encouraged both Anglo Irish Bank and Irish Life and Permanent (ILP) to enter into financial transactions the State later argued were a conspiracy to mislead investors, the Anglo/ILP trial heard.

However the judge in the trial, Judge Martin Nolan, decided that the fact that the four accused bankers might have believed the authorities had encouraged them in their actions, was not a defence. He also ruled that the actions of the regulator and the Central Bank did not constitute “entrapment” as that had to include an intention to prosecute.

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