Court documents released in Massachusetts outline in detail the counts against Mr Drumm in connection with the collapse of Anglo during the financial crisis. The charges carry penalties ranging from five years behind bars to an unlimited prison term.

The counts were published by Massachusetts district court on the day of Mr Drumm’s first scheduled extradition hearing following his arrest in the US last week. According to the court papers, an arrest warrant was issued for each separate charge on June 27, 2013, by a judge in Dublin.

“In February 2009, the Irish Financial Services Regulatory Authority filed a complaint with An Garda Síochána, Ireland’s national police force, concerning a number of suspected malpractices within Anglo,” stated the 12-page court document. “In the course of the investigation, Drumm was implicated in the alleged malpractices.”

The majority of the 33 counts relate to Mr Drumm’s alleged role in the so-called Maple 10 transactions. The plot involved the bank lending around €450m to a secret circle of clients in July 2008 in order for them to buy shares in the bank to stop its price tumbling. It was the outworking of a bid to save the bank from a doomed €2.4bn gamble on its shares — 28% of its total stock — by former billionaire industrialist Sean Quinn.

In relation to the events around the Maple 10, Mr Drumm, who has been living in the Boston suburb of Wellesley, is accused of disclosing false or misleading financial information; giving unlawful financial assistance related to the purchase of shares; forgery; and being privy to document falsification.

He faces two further counts — of false accounting and conspiracy to defraud — in relation to so-called back-to-back transactions. The charges relate to claims Mr Drumm was involved in giving billions to Irish Life and Permanent, only for it to return the money to Anglo through its corporate subsidiary Irish Life Assurance. Anglo presented this money as a corporate deposit in an effort to bolster its books.