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Mon 01 Jan 2010AIB still has questions to answer over Green deal
ANALYSIS:The high prices gained by AIB in 2008 sale of the Kallakis portfolio to Green Properties belie a market then in crisis, writes GRETCHEN FRIEMANN
AS AIB knows to its cost, there is never a good time to discover a fraud. When the John Rusnak trading scandal was revealed in the early years of the century, Ireland’s largest bank suffered a €760 million loss. However, it was the blow to AIB’s credibility that brought the bank to the brink of destruction.
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