The Celtic Tiger's bogus underbelly continues its slow unravelling

Estate agent and would-be dealmaker Eamonn Kelly got six years for his €1.6 million Ponzi scheme in what must be the toughest sentence handed down to a fraudster in quite a while. Kelly took €1.6 million off punters claiming to be able to offer 15 per cent returns in six months in fast-tracked property deals. He forged a letter from lawyer to the stars Gerald Keane, to make it look as if the celebrity legal eagle was part of the set up. Read it here.
In another part of the forest David Drumm lost his legal bid to stop Anglo Irish challenging his US bankruptcy. They want to get him back to Ireland so allegations of fraud surrounding the zombie bank can be fully investigated. Read it here.

Anglo's ex-boss David Drumm makes the argument for coming home and facing the music

In fighting his old bank trying to stop him being declared in bankrupt in the United States (and thereby wiping out his debts) David Drumm made the perfect argument for coming home and facing the music. His lawyers argued in documents that they fear that the passage of time could affect witness statement and evidence in relation to allegations made against him by Anglo Irish, now known as the Irish Bank Resolution Corporation. It's a pity he didn't feel the same about getting his side of the story down on record before relocating to the US. Read the Indo's story here.