AllFirst

9 results

John Rusnak, right, outside federal courthouse after pleading guilty in the Allfirst scandal. Photograph: Gail Burton/AP Photo

AIB has brought legal proceedings against a number of insurers after they declined to cover the bank for losses arising out of $700 million (€596 mill(...)

AIB chief executive Bernard Byrne rings the bell at the Irish Stock Exchange with Deirdre Somers, Irish Stock Exchange chief executive and AIB chairman Richard Pym as formal trading commenced in the bank’s shares following last week’s IPO. Photograph: Dara Mac Donaill / The Irish Times

AIB may look to international expansion once more as the bank beds down its Irish operations and returns to growth. Speaking to Bloomberg television,(...)

John Rusnak: pleaded guilty in 2002 to defrauding AIB’s former US unit where he had worked, Allfirst Financial. He was sentenced to seven and a half years in prison. Photograph: Baltimore Sun

AIB received only a fraction of the $872 million (€781.7 million) it had sought from Citigroup when it agreed last year to settle a 12½-year case aga(...)

AIB: heading back to the private sector. Photograph: Cyril Byrne

As speculation of an imminent announcement on the long-awaited return of AIB to the main stock markets in Dublin and London went into overdrive last w(...)

John Rusnak, the rogue trader who cost AIB $691 million, has expressed relief that the bank and Citibank settled a 12-year-old US legal action over h(...)

The case arose from John Rusnak’s having hidden trading losses at AIB’s Allfirst Bank  for at least five years before they were revealed in February 2002.

Citigroup has settled long-running litigation in which AIB accused it of helping rogue currency trader John Rusnak rack up a $691 million loss. US di(...)

Rogue trader John Rusnak: pleaded guilty to defrauding AIB subsidiary Allfirst in 2002 and was sentenced to seven and a half years in prison. He has since run a dry-cleaning and laundry business in the Baltimore area

John Rusnak, the rogue trader who cost AIB $691 million, has said he will not testify at a US trial in which the bank is suing Citibank for (...)

John Rusnak: pleaded guilty to bank fraud, and served nearly six years of prison term. Photograph: Algerina Perna/Baltimore Sun

AIB has won approval in a US court to pursue a $500 million fraud claim against Citigroup, which the bank alleges helped so-called rogue trader John (...)

John Rusnak in one of his ZIPS Dry Cleaners franchises in Baltimore: I’d love to build a thousand of these stores and make a million dollars. photograph: baltimore sun

John Rusnak was something of a star when he was in prison, he says. Fellow inmates sought out the man once dubbed “Johnny Ruz” by market traders over (...)