The former chief executive of Anglo Irish Bank, now living in Boston, has dropped his fight against extradition and agreed to return to Ireland to face fraud charges.

Irish investigators have accused David Drumm of conspiring to conceal massive losses from shareholders. He left Ireland after the bank collapsed. He moved in 2009 to the Boston suburb of Wellesley, where he was arrested in October.

A March 1 extradition hearing had been scheduled. But on Thursday, Drumm agreed to return to Ireland. During a hearing in federal court, Drumm waived his right to an extradition hearing.

Drumm said in an affidavit filed with the court that he will continue to contest the charges in the Irish courts. It was not immediately clear when Drumm will be returned to Ireland.