Former Anglo finance director Willie McAteer jailed for two and a half years

The sentence will run alongside one he is currently serving

Former Anglo finance director Willie McAteer jailed for two and a half years

Former Anglo Irish Bank executive Willie McAteer leaves the Circuit Criminal Court in Dublin | Image: Niall Carson PA Archive/PA Images

Anglo Irish Bank's former Director of Finance Willie McAteer has been handed a two and a half year sentence for fraudulent trading.

The sentence will run alongside a sentence he is already serving for his part in a conspiracy to defraud.

Towards the end of 2008, McAteer held over three million shares in Anglo - shares he had bought through an €8.2m loan from Bank of Ireland.

With Anglo's share price plummeting, the court heard a plan was hatched to prevent them from being sold.

It involved McAteer accepting a loan from Anglo to pay off the Bank of Ireland loan in what Judge Martin Nolan described today as a clear case of fraudulent trading.

Last July, the 66-year-old was jailed for three and a half years for his role in a conspiracy to defraud the public about the state of Anglo's health in 2008.

Despite once being an "extremely successful and wealthy man", Judge Nolan said he will be an "impoverished" one when he leaves prison.

He said he should not have committed this crime despite the pressures he was under - but said it would be unjust to impose a consecutive sentence, so the two and a half years he handed down today will run alongside the sentence he is currently serving.