|10-23-2008, 01:55 AM||#1|
Join Date: Jul 2001
Location: Hot Springs, Ouachitah
Lehman brothers fraud
Germany investigates KfW bank after Lehman transfer
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Yahoo! Buzz Digg Newsvine Reddit FacebookWhat's this?BERLIN (AP) — German prosecutors say they have opened an investigation into whether managers at KfW bank committed a criminal breach of trust by transferring euro319 million ($410 million) to Lehman Brothers just as the investment bank went into bankruptcy.
Frankfurt state prosecutors say they and federal investigators began an investigation Wednesday into whether managing board members acted criminally by allowing the transfer on Sept. 15 — the same day Lehman made the biggest bankruptcy filing in U.S. history.
Last month, the state-owned development bank's administrative board suspended and then fired two top managers working at the bank at the time of the transfer.
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