Drumm rules out any return
The former chief executive of Anglo Irish Bank David Drumm has ruled out any return to Ireland and repeated his claim that the Central Bank, the Financial Regulator and the Department of Finance all knew the details of the controversial Maple 10 share deal wich saw the bank lend €450m to 10 customers so they could buy Anglo shares.
In an interview with the Sunday Business Post which is published this morning he said that when he had told the authorities he was going to lend the money to the 10 so they could buy shares and reduce the stake held by Sean Quinn “they were thrilled, chirpy”.
He said the Central Bank and the Financial Regulator said “’let’s get this done’ because the fear factor was just huge”.
Mr Drumm also insisted that Anglo had not misled the Government about the extent of its loan book on the night of the bank guarantee in 2008 and said that Sean Fitzpatrick’s practice of warehousing loans was also known to the regulator in 2007.
The interview echoes claims made by Mr Drumm two weeks ago when he challenged the bank’s Anglo’s lawsuit against him in his US bankruptcy case, arguing that the Financial Regulator was “fully aware” of the transferring of Seán FitzPatrick’s multimillion euro loans off the books of the bank.
Today Mr Drumm also ruled out any return to Ireland and say that he would remain in the US where he has a job working in “mergers and acquisitions”. He said the the way he was being depicted “by that country, by the country’s media, or participants is completely and utterly unfair.”
He asked why he should return to a country where “politicians, senior ministers and even High Court judges have more or less stated that ‘we are going to get him’”
He described Sean Fitzpatrick as “a controlling person” Mr Drumm said he “ran the board, in a highly premeditated, controlled manner there were meeting before board meetings to make sure he got what he wanted and so on. Sean was like that before I became CEO, he was 18-years as CEO and he wasn’t planning on changing. So as chairman he was an executive chairman for all intents and purposes and a highly controlling one, there is no doubt in that. Anyone that knows him, knows that is true.”