After Years Of Thinking It Over, The Irish Are Going To Jail Some Bankers

Turns out there are consequences for playing "Weekend at Bernie's" with the Celtic Tiger.

After what was only the longest trial in the history of Ireland, three bankers accused of playing "Weekend at Bernie's" with the Celtic Tiger are going to spend a few years in what our charming Irish friends refer to as "gaol."


Irish Life & Permanent Plc’s former chief executive officer, Denis Casey, and two former executives at Anglo Irish Bank Corp., Willie McAteer and John Bowe, were convicted in June after the longest criminal trial in the country’s history. All three had pleaded innocent to charges they helped created a false impression of the financial health of Anglo Irish Bank through facilitating a circular payment in 2008.
Casey, 56, was sentenced to two years and nine months, Bowe, 52, received a two-year sentence. McAteer, 65, will serve three years and six months.

This attempt at financial blarney will cost the three men a combined total of 8 years. Numbers like that put Ireland firmly in the middle of the "Incarcerated Crisis Bankers" league table, well behind Iceland's 26 bankers doing 74 years and way over the United States know.

Former Irish Bankers Go to Prison After Longest Trial [Bloomberg]