Tag Archives: Global Finance: Mad & Bad – Soon To Be Dangerous To Know

John Ward – Global Finance: Mad & Bad – Soon To Be Dangerous To Know – 6 December 2012

John WardDo you want today’s mad news, or tomorrow’s bad news?

Gustl Mollath, now 56, was locked up in a high-security psychiatric hospital nearly seven years ago after being accused of making up a story about money laundering activities at major German bank, HVB. It is the sixth-largest private bank in Germany.

But now, new evidence that has been brought to the attention of state prosecutors showing that, surprise surprise, money laundering activities had been conducted over several years by members of staff at the Munich-based bank – according to details of an internal audit report conducted by the bank in 2003. Continue reading