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New Controversy over the Hypo Group

Published: January 10, 2011; 23:35 · (Vindobona)

According to the investigators, there would be no connection between the Austrian bank and Gribkowsky, the former member of the board of BayernLB

New Controversy over the Hypo Group / Picture: © Wikipedia / JJ55 (30 March 2008)

According to recent statements by Wolfgang Peschorn, the attorney for "CSI Hypo”, which takes over the investigation in the case of the Hypo Group, new controversies are likely to have occurred.

In first place, arms manufacturer Gaston Glock was named. The lawyer of the former Management Board of the Hypo Group told Peschorn the customer’s name. $ 51m were paid from an account at the Hypo Group over the Swiss UBS to an account at the Bank of Bermuda, the account holder unknown. Glock has now been connected to this account.

Last week Gribkowsky was named as the owner of the same account by Peschorn, something that has turned out to be incorrect now. Kulterer’s lawyer has already filed a suit against Peschorn for breach of official secrecy. Glock’s lawyers are also already defining their position.

Peschorn tried to appease the waters: no customer was named, bank secrecy was not violated. After the German judiciary had requested legal assistance from Austria, it was suspicious that Gribkowsky made a voluntary declaration about the transfer of $ 51m.

Meanwhile, the director of Formula 1 Bernie Ecclestone also reacted to reports about his having transferred € 50m to Grikowsky as part of the sale of Formula-1 licenses. According to Ecclestone, the reports are "absolute nonsense". He had no reason to pay any funds to the member of the board of the BayernLB.

Gribkowsky is accused of having deposited $ 50m in commissions by companies in Mauritius and the Caribbean in an Austrian Foundation, and to have concealed this fact from the German judiciary.

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