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Former Anglo Bosses Escape Jai...

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Former Anglo Bosses Escape Jail

98FM
98FM

03:47 29 Apr 2014


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Two former bosses of the old Anglo Irish Bank have escaped jail.

Willie McAteer and Pat Whelan were two weeks ago found guilty of issuing €450M in illegal loans in July 2008.

The judge in the case has said today that sending the pair to prison would be "unjust", as they believed they acted lawfully.

It's expected both men will instead serve community service.

Sentencing has been put off until the end of July, so their suitability for community service can be assessed.

The pair had large shareholdings in the bank, but the Judge said there was no question of anyone profiting for personal gain.

The Maple transaction was carried out to unwind the 29% stake that businessman Sean Quinn had secretly built up in Anglo over concerns it was destabiling the bank.


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