Court reserves judgment in appeal taken by bank executives

John Bowe of Anglo and Denis Casey of IL&P were jailed last year for €7.2bn conspiracy

 

The Court of Appeal has reserved judgment on appeals taken by two former bank executives who were jailed last year for a €7.2 billion conspiracy committed on dates in 2008.

Last July, John Bowe, the former head of capital markets with Anglo Irish Bank, and Denis Casey, the former chief executive of Irish Life & Permanent (IL&P), were found guilty by a jury at Dublin Circuit Criminal Court of agreeing a scheme to mislead the public about the true health of Anglo.

Bowe (52), from Glasnevin in Dublin, and Casey (56), from Raheny in Dublin, had pleaded not guilty to conspiring to mislead investors by using interbank loans to make Anglo appear €7.2 billion more valuable between March 1st and September 30th, 2008.

Judge Martin Nolan sentenced Bowe to two years in prison and Casey to two years and nine months in prison on July 29th, 2016.

The men lodged appeals against their convictions which commenced in the three-judge Court of Appeal on Monday and were heard all week.

President of the Court of Appeal Mr Justice Seán Ryan, who heard the appeal with Mr Justice George Birmingham and Mr Justice John Edwards, said the court reserved judgment.