The former Chief banking executive at Anglo Irish Bank David Drumm has pleaded not guilty to being involved in a conspiracy to defraud and provide false information to the financial market, according to RTE News.
Mr Drumm, who appeared before Dublin Circuit Criminal Court on Wednesday has denied all charges against him relating to the €7.2bn fraud.
The national broadcaster say the case which will take up to five months to reach a verdict, got underway yesterday when Mr Drumm 51, with an address in Skerries in Co Dublin, appeared before the court to officially submit his plea.
RTE report that Mr Drumm has pleaded not guilty to the charges which accuse him of conspiring with three other men to defraud by engaging in transactions between Anglo, Irish Life and Permanent and Irish Life Assurance to mislead depositors.
The trial, which will have an extended jury panel of 15 people, will hear testimony from over 100 people in the coming weeks ahead.