Former Chief Executive of Anglo Irish Bank David Drumm is set to face the music from Irish fraud investigators about the $9.16 billion loan in 2008 that significantly bolstered the bank’s accounts.
The 43-year-old has agreed to return to Ireland to talk with the fraud squad. Now based in Cape Cod, Drumm has been negotiating his return home for some weeks.
Drumm offered to meet with Irish detectives in Boston, but his request was refused.
Anglo Irish Bank is suing its former chief executive for the retrieval of $10 million worth of loans it issued to him.
Drumm has launched his own lawsuit against the bank, claiming he was unfairly dismissed and looking for $3.2 million compensation.
It is believed that Drumm will return to Ireland to speak with interrogators while the other legal challenges are taking place.
Gardai are hoping that Drumm will be able to shed some light on the questionable activities and deals the bank was involved with in recent years.
Though to date, no charges have been filed against him, it is believed that Drumm will be arrested when he lands on Irish soil in connection with the financial irregularities that went on at the bank.
Drumm stepped down from his post in December, 2008 when it was revealed that Anglo Irish Bank Chairman Sean Fitzpatrick had accepted $115 million in hidden loans from the back.