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Bank managers charged with fraud

POLICE investigators revealed that the former managers of Slovenská kreditná banka (SKB) bank caused at least Sk1.5 billion (€39 million) worth of damage to the bank through their illegal activities.

According to investigators the bank's managers, Norbert T., Roman H., Branislav G., and Igor H. were charged with making fraudulent loans and of causing the bank’s bankruptcy, according to the daily SME.

Interior Minister Vladimír Palko said at a press conference yesterday that the bank managers made loans to companies that did almost no business and had no property to guarantee the loans.

The bank started operating in 1993. In 1999 the volume of SKB's dubious loans rose by 773% year-on-year. One year later the bank went bankrupt.

Compiled by Martina Jurinová from press reports
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