Allied Irish
Allied Irish hope the redundancies will to cut €170 million in operating costs. Reuters

Two former Anglo-Irish Bank senior executives appeared in court in Dublin on Monday over an alleged share-support scheme, an attempt to artificially raise the bank's share price in 2008.

Willie McAteer, the bank's former finance director, was charged with 16 counts of giving unlawful financial assistance to people who then purchased shares of the company, according to the Irish Times. Ex-executive Pat Whelan faces the same charges, and some of the 16 people, including Peter Darragh Quinn, once Ireland's richest man, and other members of the billionaire Quinn family, have also been arrested.

The trial will resume on Oct. 8. McAteer was Whelan were both released on bail.