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Anglo two to be sentenced

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Judge Martin Nolan will impose sentences on the bank's former Finance Director Willie McAteer and Anglo's former head of Irish lending Pat Whelan later this afternoon.

Pat Whelan and Willie McAteer were convicted by a jury two weeks ago of providing illegal loans to the so called maple ten to buy shares in Anglo Irish Bank in July 2008.

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They are facing up to 5 years in prison for what the prosecution claims was a share support scheme.

The Maple transaction was carried out to unwind the 29% stake Cavan businessman Sean Quinn had secretly built up in Anglo over concerns it was destabilising the bank.

Supt Eamon Keogh who headed up this complex investigation gave evidence today that the 2 former directors had large shareholdings in the bank at the time.

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