A Dublin court has sent three former senior banking executives to jail for committing “sham transactions” in an effort to deceive customers and shareholders during the 2008 financial crisis.
“The trio will be among the first senior bankers globally to be jailed for their role in the collapse of a bank during the crisis,” as Reuters reports.
Former Anglo Irish Bank executive John Bowe got a two-year sentence, former Irish Life and Permanent chief executive Denis Casey was given a sentence of two years and nine months, and Bowe’s colleague and former Anglo executive Willie McAteer got three and a half years.
As the Irish Times explains,
The Washington Post further explains that the trio “essentially inflated Anglo Irish Bank’s deposit levels by about $8 billion.” The Post continues:
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