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AFTER BEING FOUND guilty of 10 counts of providing unlawful financial assistance to ten developers, former Anglo Irish Bank executives Pat Whelan and Willie McAteer will return for sentencing on 28 April.
There, the former Anglo Irish Bank officials each face a maximum of €30,000 in fines and up to 50 years in prison.
The charges, under section 60 of the Companies Act, carry a penalty of up to five years in prison and/or a fine of up to €30,000 per offence.
Judge Martin Nolan ordered Whelan, the former the former MD of lending in Ireland; and McAteer, the former chief risk officer and finance director of the bank, to return for sentencing in eleven days time at 2pm, though he warned that the sentencing could run beyond that date.
The pair were today found guilty of lending over €450 million to the so-called Maple Ten – a group of property developers.
The move came as the share price of Anglo plummeted and moves were made to stabilise the bank by unwinding the holding of Sean Quinn, who had built up a 29 per cent stake in the now bust bank.
Whelan and McAteer were found not guilty of arranging similar loans for the Quinn family.
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Haha yea 50 years, they be back playing golf by the end of the summer.
The Golden Circle will look after them no doubt !
Garlicman got 6 years. Let’s see what destroying an economy goes for.
They didn’t destroy the economy. The minister for finance who guaranteed their losses did.
they did
They were in it together …
FF/FG/Labour and Anglo have a great shared history of back-scratching. You can expect to continue into sentencing.
Alan what came first. The chicken or the egg.
Don’t forget ,Patrick Honohan :)
And he’s ridden off into the sunset with a big fat pension. By the way. Have the State’s executive ie the Government, introduced any such legislation to prevent this happening again? After all they are supposed to be the legislators in the country?
Bertie recked the economy buy using the tax receipts on borrowed money to pay the bills and over inflate public sector pay and pensions.
Bertie& co wrecked the economy by not introducing banking controls and having laws designed for the times were moving into.
They haven’t been convicted of wrecking the economy. They’ve been convicted of a stunt which ended up costing about €650 million, or what the government spends in four and a half days.
Hahahahahahahaha sure Tis only a few bob so. What’s all the fuss about.
The fuss is about them breaking the law. It was the same law even if they’d ended up losing nothing. But a sense of perspective is needed. This didn’t wreck the economy, or even the bank. A stupid business model wrecked the bank.
The chicken came first Anglo supplied. The golden egg
Not another “let the banks fail “economically ignorant comment. Even after 6 years and a return to the markets still the same crap.You, Pierce Doherty and the celebrity economists who have made a career of rubbish economics should be forced to look at repeats of the RTE report on Iceland from a few weeks back.
O years prison with a small fine. A slap on the wrist the usual Irish justice system.
Casting stones! We all would have done the same.
not a hope dude… we have honour… and not corrupted by slime
Speak for yourself Darren.
A smack on the wrist and the state picks up the legal bill…..typical
What kind of Muppets were on the jury, how could they find them two guilty and basically the top man in the bank not guilty. Are we to believe he knew nothing. What a crock of s#$’re .
Peter, the charges were carefully drafted by the AG. To get a desired result, who appoints the AG and who advises the Government on legal matters. Everyone one of those guys, won’t get properly punished for their crimes!
@ Stephen. You are 100% correct. It is how the charges were formed and drafted by the DPP. However, the DPPs office is also a human organisation, and open to the vagaries of the closed, elitist, removed from reality, opportunist legal system we have allowed to grow and become engrained here. Time for a clear out!
Could but won’t
5 year maximum per offence but can’t a judge decide lesser terms and run all ten sentences concurrently? 18 months in a cosy open prison, out in maybe six.
This is a mere start in tackling white collar crime in Ireland but probably just a couple of sacrificial lambs to please the masses. As we all know, some of Taoiseach Kenny’s corporate hero’s should also be eating porridge and would be but for the political protection-don’t hold your breath!
For all the tragedy these guys and Seanie Madoff caused, this is a sick outcome.
The Culprits and Villains quaff Champers in Clover on the blood and sweat of their victims.
Turn down your heating and limit your water and food intake tonight!
Your government is going to cover the gambling debts of their criminal friends.
@ISBA
There is no sacrificial lamb in this case. The jury reached the verdicts in accordance with the facts of the case and nothing else.
In Ireland, punishment will be 2 weeks in Barbados and suffer then on a business class flight back
They are not ‘sacrificial lambs’. They are convicted criminals.
These last 2 days are sick days for Ireland.
I’d question the timing of the end of this farcical “trial”.
Just before Easter.
Is our fine “justice” system hoping that we will all forget about this travesty by next week?
These criminals had a more of a chance of dying of old age in the meantime than being brought to justice.
To clarify, a mere two heads are rolling and the sentences will probably be trivial-at least not commensurate with the serious nature of the offences.
Back in July 2004, Dr.John Fingleton, (then Head of the Competition Authority) told the PAC that, “It will not be until Judges decide to convict people who are members of the same golf clubs of which they themselves are members, that we will see WHITE COLLAR CRIME being tackled”. It’s a start.
Not convicted though!! Not criminal if not convicted!! Generally referred to as innocent! But not in Ireland! Guilty EVEN when proven innocent. You’re laughable.
Seanie was saved by the same strain of Irish “justice”
that imprisoned the magdelanes until (relatively) a few short years ago,
that protected perverted pedophile priests for decades
and that still to this day allows murderers and rapists to walk free.
Ohh he must be innocent then so.
I hope they get a very long sentence but inevitably it will be 5 years with 3 suspended or something ridiculously soft.
I’d be banking more on a mistrial.
And the two lads being our next joint Ministers for finance..
Judge. jury .defendant. lawyers
all wear the same old collage tie
12 ordinary people on the jury.
From D4
So.
Wishful thinking that they would get such a sentence, I’d say 2/3 years max.
Only if they have no TV licence as well.
They won’t see inside a cell-period….
Anyone know what the latest is on the Garlic guy ? No breath jokes pls lol!!!
He was out a few months ago I believe..
If either of them get 5 years, as they say, I’ll eat my hat!
Suspended sentence and a little fine and be on yer way lads!
This puts in perspective what this bloody bank actually cost us, absolute joke that any of them could walk.
Would make you sick
Just wait …..they will get a small fine and then appeal the sentence !
a fine isn’t a sentence
They won’t do a day behind bars.
First of all the jury was absence for a lot of it, so that’s why Sean Fitzpatrick , go off, and if they get fined Sean will sort it for them as a good will gesture for taken the wrap for him . 5years with 4.9yrs off for some reason or another , sick
5yrs never happen. These guys will get a small sentence and be out in a few months.
Dont anyone kid themselves if you think they will be punished severly.
Just more of the same. Remember Larry Goodman and what he cost the Irish people? Haughey’s friend. Larry has done very well for himself since then. The rest of us keep paying the gambling debts of these money Junkies. They should be treated more severely than the junkies addicted to heroin in the joy as these guys cost our citizens a lot more than all the junkies in the joy.
At least Sean got off. Shame on this state for blaming it all on him. A majority of the 12 ordinary people saw through the spin. God bless ordinary people.
are u related … lol
No.
Er, Just like Bernie Madoff, Seanie was the boss of the criminal Cabal that done the damage?
Was he not?
Not guilty in a court of law. Is he not?
Madoff’s organisation didn’t bust a country and sentence generations to debt slavery?
Did it not?
This is Sean Fitzpatrick I’m on about. An innocent man.
Madoff got 150 year sentence for wiping out 18 Billion US dollars.
Fitzpatrick wiped out 30 billion Euro that could eventually spiral to 50-60 billion Euro due to the promissory note “deal”
Fitzpatrick should get the same sentence at least
No he shouldn’t. He’s innocent. Fair play to him.
Probably should ask for compensation as well.
He’s guilty.
Justice has not been served.
Shame on him and his cronies within our pitiful justice system, government and senior civil service.
May their criminality rot with them in the history books.
The jury was made up of ORDINARY people. He is not guilty. A free man. He has been wronged by the state and the media.
The man was Chairman he knew everything that was going on as most things of a huge money figure would have to go by the board. Corporate governance would state he is responsible for all good and bad things I the bank and the buck stops with him. He basically passed the book and got away scot free.
Not guilty. If he was the ordinary jury would say so.
@Lawless
Fitz and his golden circle Cabal cares nothing for you or your family.
Clear off with your pseudo justice gibber.
From bits I read Seanie was on the side. State needs to charge Drumm now and go for extradition. And the get Seanie on the 7.5 bn transfer for a day. He will be bang to rights there
Couldn’t care less if he does or not. He’s not guilty, and as much as it pains you to admit it, he’s won. Justice was served. You won’t shout me down just because you don’t like it.
Ohh not guilty?
Ehh?
Do you think that all of us business owners will get the same justice if our businesses corruptly/criminally run up excessive gambling debts and losses?
Doesn’t matter. He’s not guilty. A free man. He deserves an apology from the state.
Seanie’s “justice” ehh
Ohh! Is that the same form of justice that has rapists, murderers and perverts freely roaming the countryside,
whilst TV licence “offenders” and those who were impoverished by the likes of Seanie Fitz are being ruthlessly dragged through the courts?
You can keep your sick Joke-justice thanks.
What a farce.
If you don’t like it then run and change the laws. Don’t take it out on an innocent man who loves his family and country.
100′s if not 1000′s of innocent people have taken their lives due to the financial distress from the austerity dished out as a direct result of the corruption/criminality of Seanie Fitz and his Cabal.
Wake up and look a around you at the destruction they have caused.
Yet Fitz and his cronies quaff champagne in their leafy palaces leering down at their “peasant prey and victims”.
Justice has not been served mate.
Stop trying to defend the indefensible.
An “innocent” delusional man by the sounds of things.
Please wake up my friend, for your family’s and your own sake.
God help your innocence.
I’m going by the courts who interpret the law of the land. 12 ordinary people decided his fate, and said he’s not guilty. That’s justice. He’s a free man and should be left in peace.
Trust in your Seanie “justice” Liam.
Trust in your Seanie “justice”
God bless you.
“An innocent man who loves his family and his country”
If he’s “loves” us all so much why does he run off and hide ehh?
And god bless you too.
He was hounded by the state and media. A lot of people would do that. Truth remains that he’s an innocent man. He has a cleaner record than Nelson Mandela.
You’re right Liam. Shocking how the media in this country had him hung drawn and quartered, and he was innocent all along.
Just shows you the angry mob in Ireland isn’t as clued in as they think they are. Thankfully there are still people who want to see due process and justice rather than angry pitchforks at dawn.
Right on man.
Hung Drawn and Quartered ehh
Now that might sort out greedy, sick, twisted, criminal, corrupt bankers.
Can we dissolve the body parts in sulfuric acid afterwards?
Just kidding.
They’ll probably be dead after hanging them.
Mustn’t waste any more money than necessary on them.
So you would support the lynching of an innocent man?
Lawless the law is an ass and we’ve seen it time and time again this country is rotten to the core. There’s no such thing as democracy or justice here.
There is. We have a great justice system where everyone is innocent until proven guilty. We also have a democratic system which allows us to elect our government to pass laws on our behalf. The man was found to be innocent by his peers (the ordinary people of Ireland). A fantastic day.
Supposin supposin two men were frozen.
2 weeks suspended sentence each..
Bring back the stocks.
Three years each, one suspended.. out in under a year and a half.
They will appeal and will get off. Fact.
A fine that’s all.
They’ll each get 5 years for each offence, all to run concurrently, less 1/3 for anticipated good behavior, less 2/3 for the notional time that they would have spent whilst out on bail. Sure they’ll be home by dinner time.
Cant believe this was not dealt with a public accounts committee as usual! The judge directs the jury not to find seanie guilty? Why have a jury? Banana republic nothing changes. Interesting to see what happens next!
Fitzpatrick and the 7.5 bn should be next up …
They will not see the inside of a prison
am sure fitzpatrick is lined up by marian finucane to give another interview on how the rest of society should suck it up….just like the last interview he gave her
5 years is too short!
These greedy men destroyed the Irish economy and have placed a debt of €100,000 on every man women and child in Ireland.
How long will that debt take to oat off?
They should not be released until the debt us paid in full!
Total white collar criminals!
Gang your heads in Shane!
Fall guys.
so this is the judge who sentenced martin begley to 5 years in jail for not paying tax on the importation of garlic so wont be surprised to see these 2 get suspended sentences…
Five years for each offence to run consecutively should be it.
The judge directed the jury regarding Seanie!! Know the facts
Under Irish law, any sentences will run concurrently. The maximum time they can spend in jail is 5 years.
5 years is too short!
These people destroyed Ireland Inc and its Banking System!
The only reason that no one was found guilty of giving loans to Quinn was that the implications of the use of the money are massive. The loans were given to Quinn fact., and he used the funds to keep open CFD margins, he stated this himself, well he didnt take the loan to buy a new car, did he!. The courts in Ireland have got their instructions from somewhere to protect the CFD providers who took all the bailout money and capital from the banks on the bets. The implications would be that the CFD providers took proceeds of crime and all those BILLIONS would have to be looked into. BTW, the biggest CFD provider’s founder donated 5 million pounds to the Conservative Party, the biggest single ever donation, to buy favour, the UK government Treasury Department control the use of CFDs and NOT the FCA or former FSA. Therefore the UK Conservative Party directly have a finger in this pie and they do not want this to blow up in their faces. More seriously the CFD account took the bailout money and the UK Treasury regulate CFDs.
Is Seanie due an apology and damages? Has had an awful six years for an innocent retired man.
have your say