AIB "fraud" lasted five years
NEWS
DUBLIN -- Allied Irish Banks has announced that its $691 million losses from a suspected FX fraud had arisen during a five-year period at subsidiary Allfirst in Baltimore, extending back to 1997.
In a conference call to announce the bank's preliminary 2001 results last Wednesday (February 20), AIB chief executive Michael Buckley in Dublin said that 55% of the foreign exchange losses occurred between 2001 and 2002, 30% in 2000 and 15% between 1997 and 2000.
Previously, the bank had stated that
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