U.S. detention hearing delayed for ex-Anglo Irish Bank CEO

Reuters News
Posted: Oct 23, 2015 12:21 PM

BOSTON (Reuters) - A U.S. judge delayed on Friday a hearing on whether to hold the former head of Anglo Irish Bank in jail as the court mulls whether to send him back to Ireland where he faces criminal charges related to the bank's collapse.

U.S. law enforcement arrested David Drumm, the bank's former chief executive, on Oct. 10 after Irish officials asked for him to be extradited to face a 33-count indictment that includes charges of forgery, conspiracy and false accounting.

He had been due to appear at a detention hearing on Monday, but that has now been rescheduled until Nov. 13.

His attorney, Tracy Milner, has asked for Drumm to be released on bail while the U.S. District Court in Boston determines whether to extradite him. She said in court papers that Drumm had retained additional lawyers who needed time to prepare arguments.

Anglo Irish was nationalized in early 2009, a takeover that cost Ireland some 30 billion euros (currently $33 billion). Its collapse was driven by casino-style lending that reflected the greatest excesses of the Irish economy before the financial crash.

(Reporting by Scott Malone; Editing by Frances Kerry)