Updated: 30/06/17 : 11:42:09
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Former Anglo bankers lose appeals to convictions

Two former bankers have lost appeals over convictions for their parts in a €7.2bn conspiracy to defraud, involving Anglo Irish Bank and Irish Life & Permanent.

IL&P's former CEO Denis Casey and former Anglo executive John Bowe have spent almost a year behind bars.

The trial of Denis Casey, John Bowe and another banking executive - Willie McAteer, former Finance Director at Anglo Irish Bank - was the longest criminal trial in the history of the State until the record was broken last month by Anglo’s former CEO Sean Fitzpatrick.

When handing down sentences almost one year ago, Judge Martin Nolan described what the former banking executives did as a “deceitful and corrupt crime” that could have affected thousands of people.

They were found guilty of taking part in a conspiracy designed to fool the public about the health of Anglo Irish Bank in the six months leading up to the end of 2008.

Denis Casey was sentenced to two years and nine months in prison and John Bowe was jailed for two.

They appealed their convictions on a number of grounds including the admissibility of expert evidence and the judge’s directions to the jury.

In dismissing their appeals today, Mr Justice Sean Ryan said the court found Judge Nolan exercised his function carefully and correctly and was therefore satisfied the convictions were safe and satisfactory.

Casey, Bowe and McAteer were found guilty of engaging in a dishonest scheme that saw €7.2bn moving from Anglo to Irish Life & Permanent between March 2008 and September 2008 in order to defraud the public about the state of Anglo at what was a turbulent time on the financial markets.

McAteer was jailed for three and a half years, Casey for two years and nine months and Bowe for two years.