Gardai have objected to David Drumm’s bail application because they believe the former CEO of Anglo Irish Bank will flee the country.
Mr. Drumm arrived at Dublin airport in the early hours of this morning after agreeing to his extradition from Boston last month.
David Drumm waved at a group in the public gallery when he was brought into court. He said “good morning” to Judge Michael Walsh and thanked him when he was told to take a seat.
Following his arrest at Dublin airport this morning, he was charged with 33 offences arising from his final years as CEO of Anglo Irish Bank. Some of them relate to alleged transactions worth over €7bn with Irish Life & Permanent, while the majority arise from alleged unlawful loans to the family of businessman Sean Quinn and the so-called Maple Ten.
Gardai have objected to bail on a number of grounds including their fear he will flee the country if he’s released.
Mr. Drumm moved his family to Boston in 2009 and he’s been accused of leading State agencies on a “merry dance” since then.
The court heard he owes over €8m but Gardai claim he still has the capacity to marshal significant amounts of money.
A decision on bail is expected at some stage this afternoon.
