Irish court convicts 2 Anglo Irish bankers of illegal lending
Source: Reuters
A Dublin court found two former executives of the collapsed Anglo Irish Bank guilty on Thursday of charges of illegal lending and providing unlawful assistance to investors.
Pat Whelan and Willie McAteer were judged guilty on 10 counts of illegal loans to clients known as the "Maple Ten". They were found not guilty on six other charges of illegal loans to the family of businessman Sean Quinn.
Judge Martin Nolan said that he would consider the arguments for sentencing Whelan and McAteer on April 28 but that he was unlikely to give a decision until later. The maximum sentence on each charge is five years and/or a 3,000 euro fine.
Former Anglo Irish chairman Sean FitzPatrick was found not guilty of the same charges on Wednesday in the first such case since Ireland was rocked by a banking crisis six years ago.
Read more: http://uk.reuters.com/article/2014/04/17/uk-ireland-banking-courts-idUKBREA3G1GP20140417