A former non-executive director at Anglo Irish Bank has described one time billionaire Sean Quinn as a 'loose cannon' who invested in the bank as a 'financial gamble'.
Michael Jacob is giving evidence in the trial of former Anglo executives Pat Whelan, Willie McAteer and Sean FitzPatrick who deny providing unlawful financial assistance to the Maple Ten and to the family of former billionaire Sean Quinn to buy shares in the bank in July 2008.
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Earlier Maple Ten investor Brian O’Farrell told the court that the former CEO of Anglo Irish Bank David Drumm said that if a hole in the bank wasn't plugged immediately the bank would be gone within a week.
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