Croatian bank’s $100m suspect currency losses
NEWS
RIJEKA, Croatia -- Following Allfirst Financial’s $700 million forex trading losses, announced in February, Croatian bank Rijecka Banka said last week it had lost $100 million in similar circumstances.
According to Reuters reports last week, Rijecka’s chief forex dealer Eduardo Nodilo, now under arrest, allegedly lost most of the bank’s $120 million capital by squandering at least $73 million in speculative currency trades since 1998. He left open positions of a further $20 million.
Croatia’s
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