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Now bank squad turn attention to David Drumm

DETECTIVES investigating the financial dealings of toxic Anglo Irish Bank are set to switch their attention to David Drumm.

The former bank boss quit as chief executive in December 2008 -- just 24 hours after the resignation of former chairman Sean FitzPatrick.

Detectives behind the three-year probe are determined to quiz Mr Drumm over his role in the bank's collapse -- but he has so far snubbed calls to co-operate.

And senior Government sources say they are "confident" the authorities leading the investigation will ensure that "all those involved in Anglo's collapse" are questioned over their role.

Mr Drumm fled to Boston after quitting the lender -- now called Irish Bank Resolution Corporation (IBRC) -- just as it was about to fall into State ownership.

However, it is believed that he is currently lying low in a different part of the US in a bid to shield himself, his wife Lorraine and their two children from the media spotlight.

Mr Drumm resigned amid extreme controversy surrounding loans totalling a staggering €87m which he had taken out from the bank.

He is set to appear in court in the US early next year after the IBRC objected to elements of his bankruptcy bid.

He is believed to owe creditors more than €10m.

Speaking to the Herald today, cabinet member and Government Chief Whip Paul Kehoe demanded that David Drumm be answerable in relation to his role in Anglo.

"Anyone who had any involvement in Anglo's collapse should come forward and that certainly includes David Drumm. He must absolutely be answerable to the authorities," he said.

"I must say that during the last referendum campaign, this was one of the biggest issues on the doorsteps. The Irish public deserve to see serious progress made in relation to Anglo. The authorities have made huge ground over the last few months and I'm hopeful that progress will continue and we will see individuals such as David Drumm being questioned."

Mr Drumm filed for bankruptcy in 2010 after claiming he was unable to repay €8.5m in loans he took from his former employers.

Lawyers for IBRC argue that Mr Drumm was less than truthful during court hearings last year in relation to his finances.

If Mr Drumm is found to have lied in court filings, he may be liable for the full multi-million euro debts.

His wife, Lorraine Drumm, managed to hold on to around €1m in assets as part of a bankruptcy deal agreed in May.

Officers are likely to make a major push for Mr Drumm to be extradited to Ireland in the coming months, but this can only be done if the DPP rules in favour of criminal charges against him.

Numerous attempts have already been made to organise a meeting, either in Ireland or the US.

However all of these have been snubbed by the ex-Anglo chief.

hnews@herald.ie