David Drumm employed as Mountjoy Prison cleaner

His sentence will most likely be reduced to four years with remission and time served in the US.

“It looks like he is going to be there for the foreseeable future,” said one prison source.

The early indications on Wednesday, when he was sentenced, were that he would stay overnight in Mountjoy and that he might be sent to Wheatfield Prison in west Dublin, but that it was possible he would stay put in the North Circular Road jail. There were reports that he could be sent to Midlands Prison in Portlaoise, but later it emerged that he was in the C Base of Mountjoy and working as a cleaner.

After breakfast yesterday which, like everyone else, he collected from a mobile servery on the landing and took to his cell, he was handed his equipment and informed of his duties.

“He is the ideal candidate really,” said the prison source. “He is not going to cause violence or trouble for officers or trafficking drugs or anything.”

It will mean more out-of-cell time for Drumm than other prisoners, but it also means he will come into contact with inmates.

“He is going to bump into prisoners, but there ain’t no way of avoiding that now,” said the source. “And, he is in for a decent chunk of time. He will feel it, no doubt.”

Following the complete refurbishment of Mountjoy, Drumm, like other prisoners, has his own cell, with in-cell sanitation.

Heavily criticised by Judge Karen O’Connor at the Dublin Circuit Criminal Court for his “grossly reprehensible actions” for his part in a €7.2bn plot to defraud the markets during the 2008 financial crisis, Drumm will also be able to take up education and training in Mountjoy.

If he wants, the former Anglo Irish Bank chief executive can use the jail’s library, gym, and exercise yard and is entitled to visits.