Drumm not just a cad, but also engaged in immigration fraud?
September 1st, 2011 | by aobaoill |It appears from the report in tomorrow’s Irish Times that Anglo Irish Bank is accusing former CEO David Drumm of engaging in fraud to secure his visa to the United States:
Anglo alleges that Drumm devised the “loan” from his wife “as a ruse” to qualify for an “E-2 Treaty Investor Visa” to live in the US and to use the cash in his business accounts as his “personal piggyback to spend on personal expenses.”
If true, Drumm could have more serious problems than a failed bankruptcy scam (both Anglo and the bankruptcy trustee are opposing his attempt to be discharged from bankruptcy, on the basis that he lied repeatedly, claiming that “Drumm “testified falsely” and engaged in a pattern of conduct to conceal from and defraud Anglo, Dwyer and other interested parties, the bank claimed.
In her complaint, Dwyer claimed that Drumm failed to disclose transfers of property, materially understated the value of assets and concealed property.”).