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Drumm fails in bid to change bail conditions

David Drumm must sign on daily at a garda station
David Drumm must sign on daily at a garda station

Former chief executive officer of Anglo Irish Bank David Drumm has lost a bid to relax his bail conditions.

Mr Drumm appeared before Dublin Circuit Criminal Court where his solicitor applied to reduce his signing-on conditions at Balbriggan Garda Station to once a week instead of once daily.

Aoife Corridan told the court this takes about an hour every day, which she said was a "significant burden" and requested that he be allowed to sign on once a week.

Sinead McGrath, BL, for the prosecution, said Mr Drumm's signing-on conditions had already been relaxed from twice daily to once daily after his last court appearance in April.

She noted that the court previously heard submissions that he posed a "serious flight risk".

Judge Martin Nolan noted that it was unlikely that Mr Drumm could leave the State "without somebody noticing".

"Mr Drumm is one of the best known Irish men in this State," he said.

However, he said garda requirements that Mr Drumm sign on daily were "not unreasonable at this particular time and in this particular case" and he denied the application.

Mr Drumm will go on trial on 24 April 2017 on two offences.

He is charged with conspiring with other bankers from Anglo Irish Bank and Irish Life and Permanent to defraud investors, depositors and lenders by misleading them about the true value of Anglo's deposit books.

He is also charged with false accounting by furnishing false information to the market in September 2008, giving the impression that Anglo's deposits were  €7.2bn greater than they actually were.

That trial is expected to take 12 weeks, the court heard today.

Mr Drumm faces a second trial on 15 January 2018 on 31 offences.  

There are 16 charges relating to the alleged provision of unlawful financial assistance to ten developers and six members of Seán Quinn's family.

There are also 14 charges relating to the falsification of documents and one charge relating to a breach of an EU transparency directive. That trial is expected to take two months.