Most depositors defrauded 1958 to 1993

TSB Dublin and Cork & Limerick Savings Bank defrauded most depositors from 1958 to 1993 by paying less than the advertised interest on the savings and investment accounts.

The banks tricked depositors by not disclosing in the application forms for the accounts and in newspaper advertisements of interest rates that interest is calculated on the lowest monthly balance ( Rule 18 certified under the Act of 1863) when the ordinary and customary practice of banks was to pay interest on a daily balance.

Convictions and fines for fraud, affirmed by the Dublin Circuit Court can be viewed by clicking here and here

Theft by Trustees of TSB Bank

TSB Bank fraudulently enriched its trustees, employees and agents by paying them interest on a daily balance, in breach of Rule 18 certified under the Savings Banks Act 1863. 

Significantly, the bank denied daily interest to most depositors because of excruciating attention to Rule 18 which was concealed from depositors.

The affidavit from Joseph Doyle admitting to the bank fraudulently enriching the trustees, servants and agents can be viewed by clicking here