Anglo Irish Bank: Former officials' fraud convictions quashed

Bernard Daly and Tiarnan O'Mahoney Image copyright RTÉ
Image caption The fraud convictions of Bernard Daly and Tiarnan O'Mahoney were quashed by the Court of Appeal in Dublin

Two former Anglo Irish Bank officials who were jailed last year for fraud offences have succeeded in having their convictions quashed on appeal.

Tiarnan O'Mahoney and Bernard Daly had been found guilty of conspiring to conceal accounts and conspiring to defraud the Irish tax authorities.

However, the Court of Appeal in Dublin ruled on Tuesday that the trial judge misdirected the jury on some issues.

Mr O'Mahoney could face a retrial, but Mr Daly was released without retrial.

Both men held senior roles at Anglo Irish Bank, which had to be bailed out by Irish taxpayers in 2009, at a cost of about 30bn euros (£23.5bn).

Mr O'Mahoney, from Glen Pines, Enniskerry, County Wicklow, was Anglo's chief operations officer while Mr Daly, of Collins Avenue, Whitehall in Dublin, was a company secretary in the bank.

The Court of Appeal ruled that the trial judge had allowed inadmissible evidence and that the prosecution was out of time in bringing some of the charges against the men.

Mr Daly, 67, was released from custody after the appeal on Tuesday.

Mr O'Mahoney, 56, was released on bail until 14 April, when the court will begin to decide if he should be retried.

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