Drumm’s sojourn

[cremeegg]

Sentencing expected this afternoon. I predict he will get 7 years plus.

 

[dub_nerd]

I'm going to guess five years with part of it suspended, less time already spent in custody in the US, and time off for good behaviour. He'll be out in two.

 

[TarfHead]

Can someone explain why this was tried in the Circuit Criminal Court, and not the High Court ? I'm generally ignorant about the judicial system so expected a trail of this prominence to be tried in the High Court ?

Also are the sanctions available to a Circuit Court judge lower than those available to one in the High Court ?

 

[cremeegg]

I think, and I am certainly open to being corrected, that the circuit criminal court is in fact the high court. It’s just on circuit

 

[Purple]

6 years. It should have been between 25 and 35 years.
6 years is about a minute for every €2,283.

Edit: wrong sums the first time!

 

[Duke of Marmalade]

I think dub-nerd wins the prediction stakes

 

[Leper]

. . . . now let's prosecute the rest of the banks managers, assistant bank managers etc.

 

[Purple]

I think dub-nerd wins the prediction stakes

Yep, excellent call on his part.

 

[Duke of Marmalade]

A couple of thoughts.

If someone engages in say armed robbery they do so fully aware that if caught they will do time. I wonder whether Drummer when, with the nod from the regulator and the approval of the auditors, misrepresented Anglo’s deposit ratio as 69% when it was only 61% did he think he would get 6 years when found out?

Second thought. If it had all worked out fine would we still have prosecuted him and given him 6 years?

Just saying

 

[TheBigShort]

Interesting obs Duke.

It was interesting to listen to the Garda Detective in charge. He stated that one of the reasons the case took so long was that they had to establish first that a crime had taken place. In effect there was no crime scene.
So it would appear that all was (and probably still is) hunky dory and above board as far as the paper trail was concerned.
The Anglo tapes were damning however. Much credit must go to the investigators on this. The difficulty in pursuing white collar crime has become more apparent.
I suspect, had Anglo survived and there was no bailout etc none of this would have seen the light of day.
Which is then scary to think on what possible scale is this occurring in the global financial system, let alone Ireland.
I think you know my opinion on this already.