Charges against Former Board Members of BayernLB

Professional Services › Banks ♦ Published: June 3, 2011; 12:18 ♦ (Vindobona)

Accusations relating to the acquisition of the Austrian Hypo Group: breach of duty, embezzlement of bank funds.

Charges against Former Board Members of BayernLB / Picture: © BayernLB

According to German media reports, the public prosecutor’s office in Munich has brought charges against eight former members of the board of BayernLB in the case of the acquisition of Hypo Group Alpe Adria in 2007. The bank’s former CEO Werner Schmidt and seven other former board members are accused of breach of duty and embezzlement of bank funds. Barbara Stockinger, spokeswoman of…

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