Former Anglo Irish Bank boss, David Drumm, has spent thousands of dollars building a seven-foot fence around his Cape Cod home.
Drumm resigned from his position as CEO in 2008. He relocated to Chatham, Cape Cod at the height of the banking crisis.
Currently he is wanted for questioning by the Irish police and the financial regulators with relation to irregular transactions between the Irish Life & Permanent and Anglo Irish Bank.
Drumm paid $4.6 million of his waterfront home in Cape Cod, which now has a seven-foot-high fence surrounding it. He has officially changed the status of the house declaring it his home. As his primary residence it protected up to the value of $696,721 against claims from creditors.
The Irish police said that they could not comment on individual cases. The fraud squad have already interviewed two former executives in Anglo Irish Bank.
In June of this year Drumm applied to have a Commercial Court action against him thrown out because of the bank refused to disclose certain documents in the case. Mr Justice Peter Kelly had said that the bank was being investigated by five authorities. It questioned why it wanted to protected the good names of people involved in the running of Anglo before it was taken over by the State.
Recently an RTE (Ireland’s National Broadcaster) journalist, Charlie Bird, doorstep Drumm but he refused to answer questions. He sail “Have a bit of respect will you Charlie, I have my family here....Leave now”
Last week the Irish Government revealed the price of bailing out Anglo Irish Bank would cost seven-times more than they had originally predicted. It will now cost at least $47.7 billion.
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