The sentence hearing of former Anglo Irish Bank directors Pat Whelan and Willie McAteer will take place on April 28th following their conviction on charges of providing illegal lending to the Maple Ten for a share support scheme.
The jury found former Director of Finance Mr. McAteer and former head of Irish lending Mr. Whelan guilty of providing illegal loans to ten individuals to buy shares in the bank. The jury acquitted them of six charges each of lending money to the Quinn family
The jury returned the final verdicts after 16 hours and 53 minutes of deliberation over five days. Their co-accused, former Anglo Chairman Sean FitzPatrick, was acquitted on all ten charges against him on Wednesday.
The men made no reaction as the verdicts were read out. All guilty verdicts were unanimous.
Revealed: The Anglo arguments the jury did not hear
The trial lasted 48 days and was a result of the biggest fraud investigation in Irish history. It was the first time anyone was tried for the offence and the first time an enlarged jury of 15 heard was used.
Judge Martin Nolan thanked the jury for their verdicts and their service and told them they were a credit to the jury system. He excused them from further service for ten years. He also thanked the three jurors who had started the trial before the final 12 were chosen.
Judge Nolan set a sentence date of April 28th next at 2pm. He said he would be unlikely to give a decision that day but would hear the evidence in the case.
There was no objection to Mr. McAteer and Mr. Whelan remaining on continuing bail until the sentence date.
Former Anglo chairman Sean FitzPatrick and ex-directors William McAteer and Pat Whelan, were charged at Dublin Circuit Criminal Court with breaching Section 60 of the Companies Act 1963 by lending money to investors to buy shares in Anglo.
Mr. Whelan (52) of Malahide, Dublin and Mr. McAteer (63) of Rathgar, Dublin were accused of 16 counts of providing unlawful financial assistance to 16 individuals in July 2008 to buy shares in the bank. The 16 individuals are six members of the Quinn family and the Maple Ten group of investors.
Mr. FitzPatrick (65) of Greystones, Co. Wicklow, was charged with 10 counts of loaning money to the Maple Ten.
All three denied the charges. Last week the jury were ordered to acquit Mr. Whelan and Mr. FitzPatrick of a series of related counts because of lack of evidence.
The Maple Ten deal was designed to unwind the 29.4% control of the bank which businessman Sean Quinn had built up through investment tools known as Contracts for Difference (CFDs).
The ten investors were loaned a total of €450 million by Anglo to buy around 10% of the shares which Mr. Quinn controlled. Mr. Quinn’s wife and five children were also loaned €169 million to buy nearly 15% of the stock.
Newstalk's Courts Correspondent Francesca Comyn was in court when the verdicts were delivered.
