AAB Anglo Austrian Bank AG
American and Austrian Prosecutors are Investigating Former CEO Julius Meinl of Meinl Bank Regarding 150 Million Euros Losses
The Public Prosecutor’s Office for Economic Affairs and Corruption (WKStA) has launched a wide-ranging investigation into the bankruptcy of the former Meinl Bank. The corruption prosecutor’s office is targeting twelve former executives of the bank, including the former chairman of the supervisory board and “de facto decision-maker” Julius Lindbergh Meinl V, as well as the bank’s former CEO, Peter Weinzierl. The accused face charges of breach of trust, embezzlement, and fraudulent bankruptcy. According to official estimates, the total alleged damages amount to approximately 150 million euros.
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New Meinl Bank to Pay 36 Million Euro to Damaged European Land Investors
The legal successor to Meinl-Bank, AAB Anglo Austrian Bank AG, will pay around EUR 36 million to settle the claims of the remaining investor proceedings of approx. 4,000 investors of the former MEL Meinl European Land. Simultaneously, AAB starts a repositioning in which the credit business and the payment transactions are to be reduced, while the advisory business and investment banking are to be focused on.
August 27, 2019
Meinl Bank Rebranding - Anglo Austrian Bank Launches with Negative Result of EUR 4.5 Mio
As part of a rebranding, Meinl Bank of Julius Meinl V (59) has renamed itself Anglo Austrian Bank and is relaunching its operations in Vienna with 49 employees in order to respond to the increased demand for qualified asset management in the countries of the former Danube Monarchy and to provide clients with a bridge to the countries and financial markets of Western Europe.
June 28, 2019
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