Three former executives from Anglo Irish Bank have gone on trial in Dublin.
It is the first such case since the financial crisis that forced the Irish government to accept an eighty five billion euro international bailout.
Sean FitzPatrick – the bank’s former chairman and chief executive – along with former chief financial officer Pat Whelan and former finance director William McAteer deny charges that they provided unlawful financial assistance.
Prosecutors said they lent money to a number of investors, businessmen and their families to buy the bank’s shares, thereby boosting the price of those shares.
The extremely complicated trial is expected to last three to four months, with as many as 100 witnesses due to give evidence.
Copyright © 2014 euronewsMore about:
- 1The effects of the Bretton Woods Agreement 70 years on
- 2Major economic hit expected for Israel from Gaza conflict
- 3Chinese food scandal probe causes fast food chains to remove products
- 4Apple ‘honestly surprised’ by big China iPhone sales boost
- 5Alstom investigation ‘nearing criminal charges’ in UK over alleged corruption
- 1More sanctions against Russia, massive job cuts at Microsoft and ‘cheap’ warplane
- 2Farnborough: Textron Scorpion budget military jet aimed at cash-strapped governments
- 3Can Malaysia Airlines survive this latest tragedy?
- 4Microsoft to cut 18,000 jobs to remove Nokia duplication
- 5The effects of the Bretton Woods Agreement 70 years on
Wires > Business
- 00:47 CET Lloyds fine in LIBOR rigging probe to be announced next week -…
- 23:46 CET Facebook goes express to mega-cap status – now valued more than…
- 23:05 CET Indian markets’ post-election enthusiasm lost on consumers
- 22:59 CET Stocks edge up, U.S. bonds slip on jobless data, earnings
- 22:17 CET Lloyds expected to pay up to $509.5 million as LIBOR fine
- 21:35 CET Vodafone extends offer for Italy’s Cobra Automotive to August 1
- 21:27 CET British construction firms Balfour Beatty, Carillion eye merger
- 21:25 CET Stagnant wages leaves central banks fretting over fate of workers