Crime & Safety
Ex-Irish Banker Who Lived In Wellesley Facing Long Prison Term
David Drumm faces up to life in prison for the conspiracy to defraud charge and up to 10 years for false accounting.

The former head of Anglo Irish Bank who used to call Wellesley home was convicted of conspiracy to defraud and false accounting Wednesday.
The charges against 51-year-old David Drumm stem from banking transactions made during the 2008 global financial crisis. The jury of 12 determined that Drumm made a series of circular transactions that made Anglo’s deposits look €7.2 billion larger than they were in September 2008 and he conspired with other bankers to defraud depositors and investors by creating the impression that Angler was better off than it was, according to the Irish Times.
Drumm was arrested in October 2015 at his Wellesley home. He now faces up to life in prison for the conspiracy to defraud charge and up to 10 years for false accounting.
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