Former Anglo Irish Bank chief David Drumm released from prison

antimatterx

https://www.irishtimes.com/news/crime-and-law/former-anglo-irish-bank-chief-david-drumm-released-from-prison-1.4485645

3.5 year out of 6. Cushy.

suicide_circus

Just in time for the next financial collapse :pac:

doublejobbing 2

Was some of the sentence suspended? 6 years= 72 months which with 25% remission would generally be 54 months, or 4.5 years, served.

Where's my bailout Drummer, give me the moolah.

Off to a private island now in the Caribbean for a spot of water skiing. If I never see his mug again it won't be long enough.

Natterjack from Kerry

doublejobbing 2 wrote: »

Was some of the sentence suspended? 6 years= 72 months which with 25% remission would generally be 54 months, or 4.5 years, served.

I think you're just pulling figures out of your arse.

baldbear

Are the yanks after his money too? I'd say he has alot squirreld away .

That prison in Cavan is a handy spot. He was probably off peeling spuds in Nevin Maguire's place during the day.

Rodney Bathgate

Did you read the article you linked to, OP?

“getting credit for 5½ months served in Massachusetts in the US”

Rodney Bathgate

Something about garlic

Sleeper12

doublejobbing 2 wrote:

Was some of the sentence suspended? 6 years= 72 months which with 25% remission would generally be 54 months, or 4.5 years, served.

Most prisoners can apply for enhanced remission. Big crimes don't qualify so drug dealers, sex offenders etc don't get enhanced remission

doublejobbing 2

Natterjack from Kerry wrote: »

I think you're just pulling figures out of your arse.

Pulling out of your oul one.

political analyst

antimatterx wrote: »

https://www.irishtimes.com/news/crime-and-law/former-anglo-irish-bank-chief-david-drumm-released-from-prison-1.4485645

3.5 year out of 6. Cushy.

The article says he was in prison for 2 years and 8 months.

political analyst

Here's the RTÉ version of the story.

https://www.rte.ie/news/ireland/2021/0215/1197326-drumm-released/

TP_CM

What does someone like him do for a living now? I know he wasn't stuck for cash but he presumably still has bills to pay which were accumulated during his boom time. Does he go and start like a consultancy firm or something?

Vic_08

TP_CM wrote: »

What does someone like him do for a living now? I know he wasn't stuck for cash but he presumably still has bills to pay which were accumulated during his boom time. Does he go and start like a consultancy firm or something?

They all have necks like you wouldn't believe so probably, yes.

Sure Bertie now appears regularly on TV as a talking head giving his expert opinion on important matters.

hatrickpatrick

StupidLikeAFox wrote: »

By "mislabelling garlic" you actually mean "deliberate tax fraud over the course of several years to the tune of €1.7m", right?

In what universe is that a more severe crime than committing fraud to such an extreme extent that it practically brings down the entire financial system of a continent?

I agree with Garlic Man's sentence, by the way. Drumm's should have been harsher.

SEPT 23 1989

I think a Late Late Show appearance is in order

Start his rehabilitation back into decent society

beertons

Nice lump of a pension to keep him ticking over.

Cluedo Monopoly

What a message that sends out to others considering white collar crime.

mariaalice

His life is destroyed by this I would think.

Not give to conspiracy theories or paranoia about privilege but you would have to wonder he was from a relatively humble background, not your typical private school banker background and he ends up in jail very few overall were jailed over this.

There are lots of family trusts and offshore accounts of very wealthy individuals who didn't lose out and managed to stay wealthy and stay very discreetly in the background.

Its like a few were chose to be the sacrificial lambs while others got away with it.

ohnonotgmail

hatrickpatrick wrote: »

In what universe is that a more severe crime than committing fraud to such an extreme extent that it practically brings down the entire financial system of a continent?

I agree with Garlic Man's sentence, by the way. Drumm's should have been harsher.

Garlic man had his sentence reduced to 2 years on appeal.

political analyst

mariaalice wrote: »

His life is destroyed by this I would think.

Not give to conspiracy theories or paranoia about privilege but you would have to wonder he was from a relatively humble background, not your typical private school banker background and he ends up in jail very few overall were jailed over this.

There are lots of family trusts and offshore accounts of very wealthy individuals who didn't lose out and managed to stay wealthy and stay very discreetly in the background.

Its like a few were chose to be the sacrificial lambs while others got away with it.

The number of people involved in the Anglo scandal was relatively small. Presumably, there wasn't enough evidence to get some of them convicted.

political analyst

Vic_08 wrote: »

They all have necks like you wouldn't believe so probably, yes.

Sure Bertie now appears regularly on TV as a talking head giving his expert opinion on important matters.

The misdeeds for which the Mahon Tribunal found against him and Albert weren't even illegal!

gary550

free man yesterday morning, probably rode the missus while looking out at the beautiful north dublin sunset from his half a million quid townhouse with a 100k 4x4 on the driveway

Who's the f*cking eejit?

jimmycrackcorm

TP_CM wrote:

What does someone like him do for a living now? I know he wasn't stuck for cash but he presumably still has bills to pay which were accumulated during his boom time. Does he go and start like a consultancy firm or something?

Aldi are recruiting, except they wouldn't trust him near the tills.

He can start a cushy management consultancy now just as Nick Leeson did after his prison stint.

JasonStatham

antimatterx wrote: »

https://www.irishtimes.com/news/crime-and-law/former-anglo-irish-bank-chief-david-drumm-released-from-prison-1.4485645

3.5 year out of 6. Cushy.

I'd say Sean Quinn's delighted.

mariaalice

gary550 wrote: »

free man yesterday morning, probably rode the missus while looking out at the beautiful north dublin sunset from his half a million quid townhouse with a 100k 4x4 on the driveway

Who's the f*cking eejit?

Unless all that is funded by his wife, is his wife from a wealthy family? then it is disgrace that he could still have that much money himself.

You can not stop family bailing someone out there was another case where the children were funding their parents back into a lifestyle they were accustomed to after they went bankrupt.

There is no way to stop a family from helping.

Sean Fitzpatrick's wife supports him financially.

gary550

mariaalice wrote: »

Unless all that is funded by his wife, is his wife from a wealthy family? then it is disgrace that he could still have that much money himself.

You can not stop family bailing someone out there was another case where the children were funding their parents back into a lifestyle they were accustomed to after they went bankrupt.

There is no way to stop a family from helping.

Sean Fitzpatrick's wife supports him financially.

You are probably right, I think he transferred quite a bit of his wealth (and borrowed wealth) to his wife and it is indeed all owned by her by my guess.

He passed me a few times in a new enough BMW 640d when he was just back in Ireland which has now moved on obviously because he was in prison.

His wife was driving an X5 which I think was swapped for a range rover sport.

They are far from poor and look to be suffering no real financial consequences.

Then again he is financially literate so he knew what was coming and what to do to prepare for it. I'm sure he also has plenty of connections so I'm sure he will continue living a cushy number on the back of providing consulting services to his fellow white collar crooks & institutions :rolleyes:

fliball123

mariaalice wrote: »

His life is destroyed by this I would think.

Not give to conspiracy theories or paranoia about privilege but you would have to wonder he was from a relatively humble background, not your typical private school banker background and he ends up in jail very few overall were jailed over this.

There are lots of family trusts and offshore accounts of very wealthy individuals who didn't lose out and managed to stay wealthy and stay very discreetly in the background.

Its like a few were chose to be the sacrificial lambs while others got away with it.

He is nothing more than than scum. Those asking what will he work at now..He doesnt need to his millionaire gaff is paid off and he has a pension worth 4.5million all of which cannot be touched even do the guy owes over 13 million. He had the neck to Sue Anglo for bonuses and pay and pensions along with some mental distress what a joke this man is...My god I hope he was given a few hidings in prison and if he is seen anywhere in Ireland he should be shunned or the song Uber alles should be sang to him.

https://www.msn.com/en-ie/money/other/david-drumm-allowed-to-keep-%e2%82%ac45m-pension-pot-despite-owing-%e2%82%ac13m/ar-BB1dKxo0?ocid=ientp

spurshero

SEPT 23 1989 wrote: »

I think a Late Late Show appearance is in order

Start his rehabilitation back into decent society

Hasn’t he suffered enough !!

mariaalice

How come his pension was not taken as part of the bankruptcy proceedings?

fliball123

mariaalice wrote: »

How come his pension was not taken as part of the bankruptcy proceedings?

Its protected under Irish law as is the family home. Revenue should be doing an audit on this man and his family every 6 months.