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Friday 15 December 2017

Drumm spends first day of freedom signing on at a garda station

David Drumm at Balbriggan Garda Station (Collins)
David Drumm at Balbriggan Garda Station (Collins)

Former Anglo Irish Bank chief executive David Drumm spent his first day of freedom in five months signing on at a garda station.

Dressed in a pair of blue jeans, a navy fleece, a black gilet jacket and a pair of Nike runners, Mr Drumm (49) was dropped off at Balbriggan Garda Station in north Co Dublin just after midday by his sister.

He spent less than five minutes inside the station signing on for the first time and left without making any comment to the waiting media.

Mr Drumm arrived in Ireland on Monday morning following his extradition from the US, where he had spent five months in custody.

Freed

He appeared before the Criminal Courts of Justice where he was freed after he lodged €50,000 in cash and his parents-in-law Danny and Georgina O'Farrell put up €100,000 sureties for his bail.

As part of his bail conditions he handed in his passport, agreed to live at an address in Skerries and to sign in twice a day at Balbriggan Garda Station.

He faces 33 charges relating to his time at the failed Anglo Irish Bank, including fraud, forgery and false accounting.

He will appear in Dublin Circuit Criminal Court on April 8.

His trial there is not expected to begin until 2017.

The case involves allegations of €7bn back-to-back transactions with Irish Life & Permanent, which the State believes was part of a conspiracy to defraud.

The charges also allege unlawful loans to the so-called "Maple 10" group of investors, as well as members of Sean Quinn's family.

Mr Drumm has not yet indicated how he intends to plead to the charges.

The court heard Mr Drumm's own cash bail of €50,000 had been lodged and independent sureties totalling €100,000 were approved.

Frozen

Half of this is in cash, with the remaining €50,000 frozen in Mr and Ms O'Farrell's joint account until the case is completed.

Judge Walsh then gave Mr Drumm the formal warning that he must provide details of any alibis he intends to rely on to the prosecution within 14 days.

The court has heard the case will involve more than 100 witnesses and a "voluminous" amount of evidence involving emails, 400 hours of phone recordings and "millions of documents".

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