David Drumm's appeal against his failed bankruptcy bid has been rejected by a US court.
The Irish Times reports the US District Court last night said a judge made "no mistake" when he blocked the former Anglo chief's bankruptcy.
Judge Leo Sorokin upheld the bankruptcy court's ruling that Mr Drumm's failure to list assets was intentional, fraudulent and was "wholly logical, plausible and supported by the record".
The judge also agreed that Mr Drumm's failure to disclose a transfer of a mortgage - worth a quarter of a million euro - on a property in Skerries in Co Dublin in late 2008 to his wife amounted to “misdirection and dishonesty”.
It is a major setback for the former banker - who remains in custody while he fights extradition to Ireland - and leaves him personally liable for $11m in debts.
Mr Drumm (49) moved to the US in 2009, six months after he resigned from Anglo.
He filed for bankruptcy in October 2010, after failing to reach a settlement on his debts.
Mr Drumm has been in custody in the US for more than a month, after being arrested by US Marshals at his home near Boston.
The Irish Government has requested that he be extradited to face criminal proceedings in relation to transactions carried out when the bank was facing collapse during the financial crisis.
