Friday, May 24, 2013

Austria: Offshore leaks claims another scalp

This time, it's the head of Austria's Raiffeisen bank (not to be confused with Switzerland's Raiffeisen Bank, which is different.) From Bloomberg:
“He [Herbert Stepic] is offering to resign his position as CEO of Raiffeisen Bank International due to personal reasons,” the Vienna-based lender said today in a statement.
The CEO had UBS set up an offshore account used to manage properties in Singapore. This story snakes out to the British Virgin Islands (BVI,) Hong Kong, Liechtenstein, and Cyprus, according to a report in Suddeutsche Zeitung.

With more ICIJ-based revelations to come, we expect.



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