Sundry counts of dishonesty: The 33 charges facing David Drumm

Accusations against former banker include creating a ‘misleading impression’ of Anglo

Court appearance: Former Anglo banker David Drumm faces 33 charges  including creating  a  false and misleading impression and giving unlawful financial assistance. Photograph: Thinkstock

Court appearance: Former Anglo banker David Drumm faces 33 charges including creating a false and misleading impression and giving unlawful financial assistance. Photograph: Thinkstock

 

David Drumm, of 73 Old Colony road, Wellesley, Massachusetts, US. Date of birth: November 7th, 1966

That you the said accused did on diverse days between March 1st, 2008, and September 30th, 2008, both dates inclusive, in the Dublin Metropolitan District conspire with Denis Casey, Peter Fitzpatrick, John Bowe and others to defraud by engaging in transactions between Anglo Irish Bank Corporation plc, Irish Life & Permanent plc and Irish Life Assurance for the purpose of (a) dishonestly creating the false and misleading impression that deposits from a non-Bank entity to Anglo Irish Bank Corporation plc during the year ending September 30th, 2008, were approximately €7.2 billion larger in amount than they really were and (b) thereby inducing existing and prospective depositors with, and investors in, the said Anglo Irish Bank Corporation plc to make decisions concerning their financial interests on the assumption that the said Bank received larger deposits from a non-Bank entity during the year ended September 30th, 2008, than it really did.

Contrary to common law.

That you the said accused did on December 3rd, 2008, in the Dublin Metropolitan District dishonestly and with the intention of making a gain for yourself or another or causing a loss to existing and prospective investors in and depositors with Anglo Irish Bank Corporation plc furnish to the market information about the performance of Anglo Irish Bank Corporation plc during the year ending September 2008 by making use of an account which to your knowledge was misleading, false or deceptive in a material particular insofar as it gave the impression that non-Bank deposits into Anglo Irish Bank Corporation plc were greater by an amount of €7.2 billion approximately than they really were during that period.

Contrary to section 10 of the Criminal Justice (Theft and Fraud Offences) Act, 2001

That you David Drumm on or about May 7th, 2008, within the Dublin Metropolitan District, being a director of Anglo Irish Bank Corporation plc, a company to which regulations 6, 7 and 8 of the Transparency (Directive 2004/109/EC) Regulations 2007 applied, which said company committed an offence under the said regulations namely, disclosing information in an Interim Management Report on May 7th, 2008, in purported compliance with regulations 6, 7 and 8 of the said regulations which said information was false or misleading in a material respect in that the said Interim Management Report stated that it included a fair review of important events that had occurred during the six months ending March 31st, 2008, and a description of the principal risks and uncertainties for the remaining six months of the financial year but failed to disclose the substantial exposure of the said Anglo Irish Bank Corporation plc to a large contract for difference position which had been built up by [businessman] Seán Quinn and/or the steps which the company had taken and/or planned to take to address same, and which said information the company knew was false or misleading, and the said offence was committed with your consent, connivance and approval and/or was attributable to your wilful neglect.

Contrary to regulations 76 (2) & (4) of the Transparency (Directive 2004/109/EC) Regulations 2007 as applied by section 21 of the Investments Funds, Companies And Miscellaneous Provisions Act, 2006.

That you David Drumm within the Dublin Metropolitan District between October 1st, 2008, and October 31st, 2008, both dates inclusive, made a false instrument within the meaning of section 30 (1) (g) of the Criminal Justice (Theft and Fraud) Offences Act, 2001, namely a purported Facility Letter addressed to Patrick Kearney created in October but dated July 17th, 2008, with the intention that it should be used to induce Anglo Irish Bank Corporation plc to accept it as genuine and to believe that a loan authorised in July 2008 had being given to Patrick Kearney on terms more favourable to Patrick Kearney and less favourable to Anglo Irish Bank Corporation plc than the terms on which the loan had actually been given and on that account to its prejudice to do some act or make some omission.

He also faces six counts of the same charge of making a false instrument relating to Joseph O’Reilly; Séamus Ross; Seán Reilly; Gerard Maguire; Patrick McKillen; Brian O’Farrell.

That you David Drumm within the Dublin Metropolitan District between October 1st, 2008, and October 31st, 2008, both dates inclusive, being an officer of Anglo Irish Bank Corporation plc, was privy to the falsification of a document affecting or relating to the property or affairs of Anglo Irish Bank Corporation plc, namely a purported Facility Letter addressed to Séamus Ross in connection with the purchase of shares in Anglo Irish Bank Corporation plc in July 2008, the falsification consisting of the insertion into the Facility Letter created in October 2008 of a date of July 17th, 2008, and the variation of the terms and conditions in such a manner so as to be more favourable to said Séamus Ross and less favourable to Anglo Irish Bank Corporation plc than the terms and conditions on which the loan had actually been given.

Contrary to section 243 (1) of the Companies Act, 1990 and section 240 (1) (b) of the Companies Act, 1990 as amended by section 104 (b) of the Company Law Enforcement Act 2001.

He also faces six counts of the same charge of falsification of documents relating to Joseph O’Reilly; Patrick Kearney; Brian O’Farrell; Gerard Maguire; Seán Reilly; Patrick McKillen.

That you David Drumm, being an officer of Anglo Irish Bank Corporation plc, within Dublin Metropolitan District between July 10th and 30th 2008, both dates inclusive, authorised or, in breach of your duty as such officer, permitted Anglo Irish Bank Corporation plc to give unlawful financial assistance to Patricia Quinn for the purpose of or in connection with the purchase to be made by the said Patricia Quinn of shares in Anglo Irish Bank Corporation plc, and was thereby an officer in default within the meaning of section 60 (15) of the Companies Act, 1963 (as amended) and section 383 of the Companies Act, 1963, as substituted by section 100 of the Company Law Enforcement Act, 2001.

Contrary to section 60 (1) and section 60 (15) of the Companies Act. 1963 as amended by section 15 of the Companies (Amendment) Act 1982 and section 240 (8) of the Companies Act ,1990, as inserted by section 104 of the Company Law Enforcement Act, 2001.

He also faces 15 counts of the same charge of giving unlawful financial assistance relating to Seán Quinn Jnr; Colette Marie Quinn; Ciara Quinn; Brenda Quinn; Aoife Quinn; Brian O’Farrell; Seán Reilly; Séamus Ross; Patrick McKillen; Patrick Kearney; Joseph O’Reilly; John McCabe; Gerard Conlon; Gerard Gannon; Gerard Maguire.