Willie McAteer and John Bowe had both denied the charges against them.
Anglo Irish Bank’s former head of Capital Markets and former finance director have both been found guilty of conspiring to mislead lenders, depositors and investors by making the financial institution’s deposits look larger than they were.
John Bowe and Willie McAteer were accused of conspiring with their Irish Life and Permanent counterparts, Denis Casey and Peter Fitzpatrick, as well as a number of other people.
The jury in the case against Casey and Fitzpatrick will continue deliberations on Thursday.
According to RTÉ, Anglo was having trouble getting funding due to the global financial in September 2008. As Anglo struggled to get funding due to low corporate deposits, a deal was done between the bank and Irish Life and Permanent to bounce more than €7bn between the two institutions, making it appear that Anglo was in a far healthier position.
The prosecution claimed that McAteer approved the scheme and that Bowe was involved in its execution.
Around 4.30pm on Wednesday, the jury returned with a verdict of conspiracy to defraud against both Bowe and McAteer.
Casey and Fitzpatrick reportedly claim that they had no intention to defraud anyone and that they had no idea how Anglo would treat the transaction in its figures.
LISTEN: You Must Be Jokin’ with Aideen McQueen – Faith healers, Coolock craic and Gigging as Gaeilge
