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Bankers charged with fraud

POLICE investigators revealed that the former managers of Slovenská kreditná banka (SKB) 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, have been charged with making fraudulent loans and of causing the bank's bankruptcy, reported the daily SME.

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

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

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