In 2018, he was convicted of fraud for actions during his time there related to the Anglo Irish Bank hidden loans controversy.
In 1988 he moved to the venture capital wing of the International Fund for Ireland, from which he obtained a position of assistant manager with Anglo Irish Bank.
By the time Drumm returned to Ireland in 2003, Anglo's US loan book had grown to $1billion and his efforts to establish the new office were considered a success back in Dublin.
The hearing at the Boston-based court heard from the Irish Bank Resolution Corporation, which fought Drumm's claims for bankruptcy, as he owed it €9 million.
[6] On 14 March, he was arrested by the Garda Síochána at Dublin Airport on arrival from Boston and taken to Ballymun Garda Station, where he was charged with 33 counts including forgery, counterfeiting documents, conspiracy to defraud, the unlawful giving of financial assistance in association with the purchase of shares, and disclosing false or misleading information in a management report.
"[9] His former colleagues John Bowe and Willie McAteer, along with the former chief executive of Irish Life & Permanent Denis Casey, were convicted of conspiracy to defraud in June 2016 and jailed for 6 years.