Allied Irish Bank

Allied Irish Bank

Ireland takes control of Allied Irish in £3.1bn move

THE Irish government yesterday took control of the country's second-biggest lender, Allied Irish Banks (AIB), after pumping in a further €3.7 billion (£3.1bn) of taxpayers' money.

AIB revises its yearly forecast as profits soar

ALLIED Irish Banks has reaped the benefit of strong economies in its core Irish and UK markets to report a forecast-topping rise in half-year profits.

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Bank has Scots rich pickings in its sights

ALLIED Irish Banks, the largest company in Ireland, is to target wealthy individuals in Scotland by expanding its private banking operations.

Ludwig heads probe into AIB scandal

ALLIED Irish Bank yesterday appointed a top US financial expert to investigate why the firm failed to notice a US$750 million (£500 million) loss notched up by rogue trader John Rusnak.

Allied Irish mounts investigation into failed security procedures

AN URGENT search for answers was underway in Dublin last night as senior officials at Ireland’s biggest bank continued crisis meetings to discuss how one of their employees had managed to defraud the company of $750 million.

Lure of the big money draws bankers to crime

IN November 1990, Michael Milken, known as the junk bond king at US firm Drexel Burnham Lambert, was sentenced to ten years for securities fraud. Drexel filed for bankruptcy after paying $650 million in fines.

Hunt on for Mr Middle America

JOHN Rusnak said goodbye to his wife on Monday morning, stepped from the timber porch of the Maryland home they shared with their two daughters and left for work as usual. At least, that was what his family thought.

Allied Irish takeover alert after fraud blow

ALLIED Irish Banks’ shock disclosure that it has apparently been hit by a half-billion pound fraud at its US operations has sparked market speculation that it may now be vulnerable to a takeover bid.

The 750 million dollar man

A FINANCIAL trader described as a church-going "Mr Middle America" became one of the FBI’s most wanted men last night after going on the run suspected of defrauding Ireland’s largest bank of $750 million.

Allied Irish fears spark Footsie slide

SHARES in London fell for the third day running as investors baled out of banking and telecoms shares, stunned by news of the $750 million fraud probe at Allied Irish Banks.

Leeson: £850m fraud felled Barings

JUST as in the case of AIB, it was the sudden disappearance of a trader that publicly exposed the massive losses at Barings Bank. The failure of Nick Leeson to arrive for work at his Singapore offices on 23 February, 1995, triggered the collapse of the City’s oldest merchant bank.

FBI quizzes suspected rogue trader over lost £500m

A FOREIGN exchange trader who allegedly defrauded a US subsidiary of Allied Irish Banks of around £500 million has met voluntarily with the FBI and federal prosecutors, his lawyer said today.

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