Disgraced former Anglo Irish Bank chief David Drumm who now lives outside Boston racked up a debt of $14,293.49 on his Chase Bank credit card but has now settle a law suit with the bank for just $3,000.
Drumm who still owns homes in Malahide, north county Dublin, Chatham, Cape Cod and just outside Boston city, in Wellesley, has agreed to pay the sum, decided in federal court, within the next ten business days.
Chase who had sued Drumm for failure to pay his debts will then drop all charges against him.
Drumm resigned from his position as chief executive at Anglo Irish Bank in December 2008 in the midst of scandals surrounding the bank's lending and accounts. The bank was taken over by the Irish Government in January 2009.
The banker now refuses to return to Ireland despite calls from the police who are still investigating Anglo Irish Banks dealing and the public.
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