Who is David Drumm and what has he been charged with?

The former-Anglo banker is coming home - and facing 33 charges...

Who is David Drumm and what has he been charged with?

Former CEO of Anglo Irish Bank David Drumm in 2005 | Image: RollingNews.ie

David Drumm has abandoned his legal challenge against extradition from the United States.

The former Anglo Irish Bank chief will return home to Dublin to fight 33 charges relating to transactions carried out while he ran the bank during the 2008 financial crisis.

His lawyers told a Boston court that he agreed to be extradited to Ireland, ending his four month challenge against removal from the US.

It is understood it may take several weeks to arrange his return to Ireland and co-ordinate his handover with the Irish authorities.

Who is he?

Born in Skerries, Dublin, Drumm joined Deloitte and Touche from school to train as a chartered accountant.

He moved to the International Fund for Ireland in 1989 and went from there to an assistant manager position in Anglo Irish Bank, eventually becoming Chief Executive in 2005.

He left his position in the bank following the resignation of Sean Fitzpatrick in 2008.

By the time both men had resigned, there was a lot of speculation about some hidden loans...

Mr Drumm left the country in 2009 and filed for bankruptcy in the US in 2010.

Image: James Horan/RollingNews.ie

What has been accused of?

Drumm faces 33 criminal charges in Ireland, including counts of false reporting, giving unlawful financial assistance, forgery, being privy to the falsification of documents, and conspiracy to defraud dating from his time at the helm of Anglo Irish Bank.

In the US he was also accused of making false statements when declaring bankruptcy. He faces charges of “acts of fraud, misrepresentations, concealments, transfers or other predicate acts” - including secret transfers to his wife Lorraine Drumm.

The Dubliner is currently being held in a maximum security prison, and was refused release before the pending extradition hearing as the judge ruled that he has "an incentive to flee," given the serious nature of the charges that he faces in Ireland. 

His lawyers argued he is being held in "intolerable and inhumane" conditions, in which he is subject to safety risks.

The Anglo Tapes 

On Monday, June 24, 2013, the Irish Independent broke the story of the Anglo Irish tapes, revealing recordings of phone calls between prominent Anglo Irish Bank officials.

Image: . Pictured at the publication of the Anglo Irish Bank annual results in 2008 were Willie Mc Ateer Finance Director and David Drumm CEO. Picture James Horan/RollingNews.ie

The tapes revealed Anglo staff laughing and joking about abusing the bank guarantee in the days after its introduction.

Further transcripts of conversations between Anglo Irish Bank executives were printed in the Irish Independent and released on Independent.ie - this time recorded shortly after the bank guarantee scheme was introduced in 2008.

In an extract from a tape featuring former Anglo CEO David Drumm, he warns his executives not to get caught abusing the guarantee scheme, warning them not to do anything blatant.

Mr. Drumm is also heard laughing as another executive sings the old German national anthem, as State deposits pour into Anglo under the scheme.

The High Court later found Independent Newspapers in contempt of court over part of its Anglo Tapes coverage.

What's he been up to in the US?

After Drumm left in 2009, he moved to Boston with his family where he filed for bankruptcy in 2010, looking for a fresh financial start.

Seven months after David Drumm's Boston bankruptcy trial, a US Judge rejected his bid. In a damning 122-page ruling Judge Frank Bailey said that the 48-year-old had made statements to the court that were "both knowing and fraudulent" and that the former Anglo Irish Bank boss had been "not remotely credible".

For a time, he worked as a financial consultant, mentioning that he hoped to rebuild his life following the trial.

In an interview with the Sunday Business Post in 2011, he detailed the fact that he had a long connection with Boston and had helped set up the bank there. 

Coming home...

Speaking to The Pat Kenny Show last week, David's brother Ken said David "has been prepared to come home for quite a long time, going back as far as July 2013 [...] but from his experience dealing with the Irish Government, he has developed a deep mistrust".

Image: Graham Hughes/Photocall Ireland/Rollingnews.ie

He also rejected the charge that his brother had fled the country:

"David resigned in December 2008, and [he and his family] always decided to return to Boston," he said. "Boston is home for them. Ireland is where they're from, but Boston is home [...] David came back to Ireland on several occasions after [they moved].

"The suggestion that David fled Ireland makes absolutely no sense, and it's a nonsense. He went home to continue his life in the US. He could see what was going on in Ireland, but he certainly did not flee Ireland," he added.