David Drumm outside court in Boston

David Drumm bought six U.S. homes in last decade


David Drumm outside court in Boston

READ MORE- David Drumm's property safe from U.S. creditors

The former Anglo Irish Bank boss David Drumm has been involved in the purchase of at least six properties in the U.S. over the past ten years it has been revealed.

According to records, in the late 1990's Mr Drumm began buying US property after he moved to Massachusetts to expand Anglo's business in the northeast of the US.

Among the properties include a home in Sudbury, a suburb on the outskirts of Boston for around $580,000 in 1999. Four years later he resold the property at a profit close to $245,000.

The disgraced banker also made a profit close to $270,000 when he sold a house at Watchhill Way in Cape Cod in 2007.

Mr Drumm purchased two other properties with a business partner in Cape Cod in subsequent years.

Another property in the same exclusive location of Cape Cod was bought in 2008 on Stage Neck Road. The extensive property was purchased for $6.4m and served as the family home up until earlier this year. The residence includes a swimming pool and a private dock for a yacht.

The sixth property to be bought by the bankrupt Irish man is his new home in Old Colony Road, a well-to-do commuter town on the outskirts of Boston.

The current home of Mr Drumm was purchased through a trust for $1.9m earlier this year. He has a 50percent interest in the trust which cannot be touched by his creditors.

Mr Drumm fled to the U.S. in December 2008, he filed for bankruptcy last month in Boston.

The former chief executive borrowed millions of euro from  Anglo Irish to buy bank shares which are now worthless.

The Irish Government has since nationalized Anglo Irish Bank following the disclosure of reckless lending and the bank is now trying to push for the sale of his assets to pay off some of the debt owed.

READ MORE- David Drumm's property safe from U.S. creditors


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