Whelan and McAteer in court on loan charges

Two former Anglo Irish Bank executives have appeared in court on charges connected to the alleged fraudulent securing of a loan for over €8m.

Willie McAteer and Pat Whelan were both arrested by arrangement and brought before Dublin District Court today.

They are charged with one count each of breaching the Companies Act in 2008.

udge John O'Neill granted bail before adjourning the cases for the preparation of a book of evidence.

Neither Mr McAteer, of Green Rath, Tipperary and Mr Whelan, from Coast Road, Malahide, Co Dublin spoke during the brief hearings.

Mr McAteer is accused of fraudulently obtaining a loan from Anglo to pay off a personal loan with Bank of Ireland in September 2008.

Mr Whelan used to work as the director of lending at Anglo and is accused of being a party to the loan.

The court heard both men were met by gardaí by appointment at the Bridewell Station this morning. Neither made any reply to the charges after caution.

Gardaí had no objection to bail being granted in either case subject to conditions.

Judge O'Neill granted bail in the defendants' own bond of €1,000 each, and independent sureties of €10,000. No cash lodgements were required in either case.

The two men must notify gardaí within 48 hours of any intention to leave Ireland or the UK.

They must also give the same notice to gardaí if they intend to change address.

Mr McAteer is to sign on once a month at Tipperary Town Garda Station, while Mr Whelan must also sign on monthly at Malahide Garda Station.

Judge O'Neill granted bail to the two men and adjourned the cases until 3 November.