David Drumm, the former CEO of Anglo Irish Bank has been expelled from Chartered Accountants Ireland (CAI) and fined EUR 15,000 for his role in creating fake deposits from Irish Life & Permanent (IL&P) and fraudulent lending in September 2008.
Drumm is already serving a six-year prison sentence which was handed down last year. The disciplinary proceedings by CAI had been put on hold at the request of the Irish Office of the Director of Public Prosecution. The trial itself had been delayed for several years until Drumm was extradited from the US in 2016.
Further CAI disciplinary proceedings remain open against Sean FitzPatrick, former Anglo Irish Bank chairman, the bank’s former finance director Willie McAteer, Peter Fitzpatrick, IL&P finance director and the accountancy firm EY, which had been the bank’s auditor.