Second Bawag Process Starts

Professional ServicesBanks ♦ Published: April 25, 2012; 20:03 ♦ (Vindobona)

In June, the former investment fund manager Wolfgang Flöttl will face retrial of Austria´s biggest criminal process.

Second Bawag Process Starts / Picture: © BAWAG

Flöttl and sever former Bawag managers were granted a new trial by Austria’s highest court in 2010. The first-instance decision by the former Justice Minister Claudia Bandion-Ortner was overruled for formal reasons. The first Bawag process started in 2007. It is expected to conclude the new process by June.

Flöttl had been found guilty of misuse of funds in 2008. The…