Austrian Times RSS FeedsLike the Austrian Times Facebook page!Follow us on Twitter!


Events for April
M T W T F S S
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 1 2 3 4
Add your event FREE

Today

Videos



BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria

Cosmo&Nanu

Cosmo&Nanu

Trial opens into bribery scandal at banknote printing press

A Vienna court has heard how former executives of a National Bank of Austria subsidiary company paid bribes to national banks in Azerbaijan and Syria.

On the first day of a trial investigating the corruption, prosecutors told the court that the former vice-governor of OeBS, the unit responsible for printing banknotes, Wolfgang Duchatczek, was one of nine people who charged foreign banks an extra 20% which was then handed to Azeri and Syrian officials as kickbacks.

Officials in Ajerbaijan and Syria were allegedly promised the money in return for OeBS winning the money printing contracts from them.

According to their lawyers, the Austrian National Bank is demanding the defendants pay 100,000 Euros compensation. They argued in court that their reputation has been damaged by the scandal, pointing to the fact that foreign bank clients are requesting more information about what went on.

Duchatczek resigned from his position at OeBS last July after he was accused of being involved in the bribery scandal. His lawyer told the court that he was unaware that the payments were bribes and believed they were commissions for helping to secure the contract.

Another former top executive, Michael Wolf, has admitted that bribery had taken place. "Bribes were paid, and Mr. Wolf admits that," the lawyer for the former managing director of OeBS said.

Austrian Times


Are you on Facebook? Like the Austrian Times on Facebook and win great prizes!




Tag cloud:
National  bribes  Azerbaijan  money  Bank  Syria  court  banknote  Wolf  scandal  Euros  bank  reputation  bribery  Austria  Duchatczek  OeBS  executives  printing  lawyers


Latest News

 

Czech firm in the proverbial over dung parcel terror alert in Austria
A Czech mail order company that sends elephant poo around the EU could be faced with a hefty bill after a package of dung sparked a terror alert at an Austrian town hall.

Model helicopter chops up owner
Austrian model aircraft enthusiast Uwe E., 50, is in intensive care after he tried to catch his expensive model helicopter when it suddenly dropped out of the sky in the town of Krenglbach in Upper Austria, and he was badly chopped up by the rotor blades.

ORF Watch To Probe State Broadcaster
Nine Austrian journalists, including the author of this article which is one of many published on my Tagebuch (diary), have got together to create a new website www.ORF-Watch.at.

Julius Meinl expands to UK
Austria's prestigious coffee brand Julius Meinl is launching its famous product in the UK, with the hope of challenging the British culture of taking coffee to go.

Indestructible Armoured Police Tank Damaged By Eggs And Tennis Balls
An Austrian manufacturer of a high-tech anti-riot water cannon costing almost 1 million EUR is facing some tough questions after one of the vehicles was badly damaged during a demonstration that involved eggs and tennis balls.

Wiener Linien grinds to a temporary halt Wednesday morning
Vienna's public transport will grind to a halt between 4 am and 6.30am on Wednesday morning as unions hold an emergency meetings to discuss the safety of Wiener Linien staff.

Vienna to host fashion awards
Since 2009, the Vienna Awards for Fashion and Lifestyle has played a big role in the Austrian fashion scene and has evolved itself into one of the country's most important events in the industry to date.

Angry business leaders say Austria is too expensive
Austria as an economic location is seriously under threat according to domestic business leaders.

Austrian architecture in the 20th Century
The Architecture centre in Vienna is opening the third stage of it's long term exhibition looking at Austrian 20th and 21st Century architecture.

Czech canoeist drowns in Austria
A canoeist drowned on the Saalach River in Austria at the weekend after his canoe capsized in the water.

 


Mala Vrata

The most popular stories –
last 7 days



Don't moan alone, the Ombudsman Investigates.

Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.

Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.


Austrian Zimmers