MORE WORLD NEWS
News from the region's first prime-time newscast. You'll find it First On Fox!
2 former Anglo Irish executives guilty of fraud; 1st convictions of Ireland's banking crisis
Reported by: Associated Press
Reported: Thursday, April 17, 2014 10:55 AM EDT
Two former executives of Anglo Irish Bank, the reckless lender that brought Ireland to the brink of bankruptcy, have been convicted of committing fraud in a loans-for-shares scandal.
A Dublin jury found former Anglo finance director McAteer and lending chief Whelan guilty of providing 450 million euros in secret loans to 10 top customers. The 10 were then required to use the money to buy Anglo's shares in a doomed 2008 effort to bolster the bank's stock value.
The jury acquitted former chairman Sean FitzPatrick of the same charges Wednesday.