AIB accounts for final Allfirst Financial losses
NEWS
DUBLIN -- Allied Irish Banks last week announced $17 million in FX losses for first-half 2002 at Baltimore subsidiary Allfirst Financial.
That figure represents the losses incurred by fraudulent FX trader John Rusnak between January 1 and February 6, when the fraud was uncovered, a spokesperson for AIB in Dublin told FX Week. Although the $17 million had already been included in AIB’s full-year 2001 results, in a one-off pre-tax charge of e789 million, accounting for Rusnak’s full losses between
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