The former Anglo chief will now remain in jail until March
A US court has denied David Drumm bail, meaning the former Anglo Irish Bank Chief Executive will remain in jail until at least March.
Drumm had requested bail at a November 13 hearing in the Massachusetts District Court but Magistrate Judge Donald Cabell refused Drumm bail on the grounds that he had “incentive to flee
“Accordingly, the motion for bail will be denied,” Judge Cabell said in his ruling, adding that Drumm had “substantial” assets that meant he had the means to flee if he was so inclined.
Mr Drumm faces a total of 33 criminal charges in Ireland - 31 in relation to his role in the so-called Maple Ten transactions and he also faces two charges in relation to the back-to-back transactions with Irish Life and Permanent.
The extradition hearing is now set for the 1st of March 2016.