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US judge rejects bail for former chief of Anglo Irish Bank

December 11, 2015

BOSTON (AP) — A federal judge in Boston has rejected a request from the former chief executive of Anglo Irish Bank to be released on bail while he awaits an extradition hearing on fraud charges in Ireland.

Judge Donald Cabell says David Drumm’s lawyers failed to show he should be released due to “special circumstances” while he awaits the March hearing.

Drumm’s lawyers argued last month he should be released on bail and placed on home confinement with electronic monitoring so he could continue working and support his family.

Cabell said in his ruling Thursday that Drumm’s family appears to have significant resources.

Irish investigators accuse Drumm of conspiring to conceal massive losses from shareholders.

Drumm left Ireland after the bank collapsed. He moved to the Boston suburb of Wellesley in 2009.

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