Former director at Anglo, Matt Cullen, said he was aware of a request from the Central Bank for Irish banks to “pull on the green jersey” and help eachother through.
Mr Cullen said that this request was the “genesis” of several transactions that became part of an alleged conspiracy to defraud investors, lenders and depositors.
As he is Anglo’s former Director of Treasury, Cullen spent the past few days being cross-examined by lawyers for the former Anglo executives John Bowe and Willie McAteer, and also former Irish Life & Permanent executives Peter Fitzpatrick and Denis Casey.
They are accused of conspiring to defraud by engaging in transactions between March and September 2008. The alleged transactions were supposedly made to make Anglo’s deposits look €7.2bn larger than they actually were.
Cullen said he was instructed by David Drumm to approach other Irish banks. This came following a conversation between the bank’s former Chief Executive and the Central Bank.
Mr. Cullen said he was aware of the so-called ‘Green Jersey’ agenda and contacted his opposite number in IL & P. It is said that they then agreed to help them put a “strong corporate number” for their half-year report and again for their end of year figures.