Rathmullan man and former Anglo Irish Bank executive William McAteer has been found guilty of giving illegal loans to the so-called Maple 10 to buy shares in the bank.
McAteer and co-accused Pat Whelan were also found not guilty of providing unlawful financial assistance six members of Sean Quinn’s family to unwind the businessman’s secret stake in the bank.
The jury returned the verdicts at the Circuit Criminal Court in Dublin after deliberating for almost 17 hours over five days.
Yesterday, their co-accused Sean FitzPatrick walked free from the court after been found not guilty of providing unlawful financial assistance to the Maple 10 as part of the plan to unwind Sean Quinn’s secret stake in the bank.
Trial judge Martin Nolan previously directed that Mr FitzPatrick be found not guilty in connection with the loans to the Quinn family.
He also cleared Mr Whelan of seven counts relating to facility letters to the Maple 10.
The loan-for-shares deal involved unwinding Mr Quinn’s secret 29pc stake in the bank, build up through contracts for difference (cfds).
The Irish Independent report that Whelan and McAteer showed no emotion as the verdicts were returned one by one.
They face up to five years in jail on each count and / or a €3,000 fine.
The pair stood in the dock side by side as they were remanded on bail by the judge. The sentence hearing will take place on April 28th.