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Crashed S & L clients to sue government

A citizens group representing people who lost money in February’s failures of four savings and loan banks has vowed to sue the government, the central bank and the financial crimes division of the police for billions of crowns in damages. In a telephone survey done February 27-28 on 500 people by the Institute for Public Affairs, however, 71 per cent of respondents fully or partly agreed that public money should not be used to repay those who lost savings in the S & L scandal. Meanwhile, two of the former top managers of failed funds BMG and Horizont – Vladimír Fruni and Marián Sebeščák – were rounded up by Croation police and are now in custody awaiting trial. Police impounded two yachts and two luxury cars while seizing the men.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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