US Marshals arrest David Drumm on extradition warant

David Drumm, 48, was detained by US Marshals in Massachusetts, according to a report on the Irish Times website.

A spokeswoman for the the U.S. attorney for the District of Massachusetts, Christina DiIorio-Sterling, told The Irish Times: “I can confirm that Mr Drumm was arrested by US Marshals in Massachusetts on an extradition warrant”.

Gardaí have been seeking Mr Drumm’s extradition to face possible criminal charges here.

He is being held in custody in Boston and is due to appear before a federal court on Tuesday.

Drumm, a Wellesley resident, was the head of Anglo Irish Bank in September 2008, when its finances unraveled during the global financial meltdown, according to the Globe. He left his post that year after disclosures that the bank’s chairman, Sean FitzPatrick, had received $115 million in hidden loans from the bank. He refused to return to Ireland to be questioned about the events leading to the collapse of the bank, which was later nationalised before being wound up.

Mr Drumm moved to the U.S. in 2009, six months after he resigned from Anglo.

His bankruptcy application was rejected earlier this year with the presiding judge finding that he had “knowingly and fraudulently” sought to keep assets from his creditors by transferring cash and other property, worth around €1m, to his wife. It was seen as the heart of a banking crisis that forced Ireland itself into a 2010 worldwide bailout.

The 48-year-old is set for court on Tuesday as Monday is a public holiday in the United States.