David Drumm to return to Ireland and drop US extradition fight

David Drumm, the man long held responsible by many commentators for Ireland’s banking collapse will return to Ireland and will give up fighting extradition from the US.

Drumm made his intent clear in an interview with The Sunday Business Post reporter Tom Lyons. ”I’m coming home to tell the real story, “ he said.

He has been held in a Boston area facility after being arrested and charged on foot of an Irish government extradition warrant.

"As a consequence of my strong desire to get to Ireland, I have instructed my US attorneys last week to explore all opportunities with the US and Irish authorities to expedite a return to Ireland and I have given clear instructions that all rights to challenge the extradition in the US should be waived and no other options available to me should be pursued in order to facilitate an immediate return to Ireland. I’m hopeful that I can apply to the court on Monday of next week [ie, tomorrow] to achieve this. I cannot indicate my determination to have these issues dealt with in Ireland any stronger than waiving all my rights to resist extradition."

Drumm who was head of Anglo Irish Bank when it was nationalized and left behind billions in debt has always accepted he had a role in the banking collapse but that others, some never mentioned publicly, have equal roles. He has long been the face put on the financial meltdown.

Credit: Graham Hughes/Photocall Ireland!

Part of his reason for returning was the suffering of his family, “My detention has had a deep and lasting effect on my family and their sense of security, and indeed the shattering of the notion that every person has certain rights that cannot be denied to them. This is the hardest for them to understand. Despite the awful circumstances, my family have remained staunchly by my side and they support me with incredible dedication. This is far worse for them than it is for me, and yet they endure it with a determined sense that justice will prevail some day and this nightmare will end for all of us.

“We have had extraordinary support from our local church and our parish priest, who has visited Lorraine (wife) and the girls at our home many times during this ordeal. This has provided great comfort to my wife and children. My family and Lorraine’s family in Ireland have disrupted their own lives to be by our side and support me, and I could not endure this without them. The support of my employer, friends and colleagues is a source of great comfort to Lorraine, our girls and me, and we are all incredibly grateful for this.

He denied he had fled Ireland after the crisis to save himself. “I was available to the Irish authorities at any time, and indeed informed them in July 2013 that they should contact my US attorney should they wish to speak to me. I informed the local US authorities of the situation with Ireland in January 2015. These are not the actions of a fugitive, yet I am still regarded as having fled. It makes no sense, and I believe the Irish government constructed it.

The Anglo Irish Bank sign is taken down from outside it's former HQ at St Stephen's Green in Dublin. Credit: Brian O' Leary/RollingNews.ie

He says he will name names when he returns of others involved: “I have seen first-hand how the Irish government responded to the financial crisis, and this was my first indication that they were not to be trusted. In 2008, a wide group of government representatives were intimately involved in the efforts to save the Irish banking system, and to avert a potential collapse of the economy.

"This included senior civil servants from the Central Bank, Financial Regulator and Department of Finance. Their names have never been published and their roles never examined.

"Almost all of these people escaped any blame and are never associated with what happened in 2008, yet they were central to events. In fact, nothing that transpired could have happened without their involvement. Some remain in their posts, others retired on generous terms . . . none of them attracted the attention of Irish investigators into the banking crisis.

Credit: James Horan/RollingNews.ie

"When I suggest that the names, roles and detailed activities of each of these people will be a central part of my story, I get a ferocious reaction from the Irish government. They will never permit this, and will do everything in their power to silence me. This is a frightening position to be in: stay silent and accept all blame, or tell the story as it was and face the entire might of the Irish government bearing down on you.

"The Irish government’s behaviour in all these matters has influenced my thinking, and made me very reluctant to take anything to do with them on face value."

Asked in return for flying home immediately, what he was offering to do? Drumm stated: "I don’t see it as offering something in return, or some sort of bargain with the DPP. It is simply this: I have indicated many times my wish to return to Ireland to deal with these issues. I have done this informally for many weeks with the Irish authorities. On January 26, I made my position clear formally in order to prompt at least some response.

"On March 1, just three weeks from now, I will start my defence in the US, and I am strongly advised that I am very likely to get bail once we establish the depth and detail of my defence in the US against extradition. This will certainly take many years, as several commentators have indicated. And it is very likely that most, if not all, of the charges will be struck out in this process.

"Despite this, I want to deal with this in Ireland, and I feel that this would be the better course of action for my family and myself. Indeed, it would be better for Ireland, rather than me having to make my defence on an international stage. I feel very strongly about dealing with this in Ireland, not in the US.

"I understand that the DPP will not agree to our request, and will oppose bail. Although this is a disappointment and very perplexing, it does not diminish my desire to return to Ireland and deal with these issues rather than litigating them over many years in the US. Given the urgency that the Irish government suggests in their desire to see me return you would think that they would  agree to this but they have not."