A jury has been asked to carefully scrutinise the states of mind of two former Irish Life & Permanent bankers accused of conspiring to defraud.

They, along with two former Anglo Irish Bank executives, have denied trying to fool people into thinking Anglo was healthier than it was in 2008.

It is the prosecution’s case that the former executives entered into a scheme whereby Anglo would transfer money to Irish Life & Permanent and have it returned through Irish Life Assurance to make its corporate deposits look €7.2bn stronger than they were.

Úna Ní Raifertaigh, senior counsel for the DPP, has spent the past two days delivering her final address to the jurors.

She believes the claims by Denis Casey, who’s a former Chief Executive of IL & P and its former Group Director Peter Fitzpatrick – that they didn’t know what Anglo intended to do – are “inconceivable”.

She said it was entirely obvious to them that the public were not to be told about the reality of the transactions.

Former Anglo Irish Bank executives Willie McAteer and John Bowe also deny the charge.