The former head of rogue lender Anglo Irish Bank, who authorities want to quiz over the collapse of the bank, has been arrested in America.
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He moved to Massachusetts in 2009, six months after resigning as chief executive of the now defunct bank.
After failing to reach a settlement with the new management team installed by the Government at Anglo over his debts of €8.5 million, Mr Drumm voluntarily files for bankruptcy in Boston.
Bailing out the failed bank that Drumm ran from 2005 to 2008 cost taxpayers around €30bn, close to one-fifth of Ireland’s annual output. Drumm appealed the ruling in federal court early this year, according to court documents. According to reports in Irish media in July, he refused to return to Ireland to provide an in-person statement to the inquiry, instead offering to make a videotaped statement.
A man at the center of an Irish banking scandal has been arrested in Massachusetts.
He attempted to declare bankruptcy in the United States only for his motion to be thrown out by a judge in January of this year who upheld 30 of the 52 objections lodged by IBRC, his former employer.
Ireland has been seeking his extradition to answer questions about the events leading up to the collapse of Anglo Irish. This follows concerns expressed by the DPP.
That file was assessed by the US Department of Justice and an extradition warrant was issued.
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Christina Diorio-Sterling, a spokeswoman for the US Attorney’s Office, told WBZ-TV Drumm will remain in custody until his hearing in federal court in Boston on Tuesday.
