BAWAG Process June 2008: in the final stretch
30 June 2008: Closing Remarks of the defendants Today, the nine defendants had the opportunity to speak their final words before the court.This allows you to try one last time to convince the court and the magistrates of your innocence.
24 June 2008: The prosecutor is asking for convictions the prosecutor Georg Krakow calls for all nine defendants guilty verdicts: "I propose a guilty verdict for all defendants and an offense and the guilt appropriate punishment"
12 June 2008: over 1000 questions answered
Over 1000 questions the expert Fritz Kleiner had to answer to today
Process highlights the March 2008
* 17 March 2008 fingerprints of the accused
On today's 80th The trial, the police arrested the accused from thefingerprints. Johann Zwettlerstrasse, Peter Nakowitz, Kreuch and Robert Reiter refused on the grounds that it was not legally covered, the others had no problem with it. For many observers of the trial of this measure comes late. When burglars even with small amounts of loss, the fingerprints will be taken.
BAWAG case in February 2008: Evidence in the basement
29 February 2008: In the basement of former BAWAG CEO Walter Flöttl - Father of the accused Wolfgang Flötl - boxes of documents were found. This evidence on the financing of OGB and SPO by BAWAG to be found. Remains highly suspect, who has placed the boxes there. They should not have been very dusty.
BAWAG process in January 2008
16 Jan.. 2008:
Wolfgang Flöttl committed concerning the contribution to infidelitypartially guilty.
Helmut Elsner said: "Flöttl lying, the bend in the bars."
BAWAG process in November 2007
28.11.2007: Günter Weninger stores a partial confession.
The Confession of BAWAG Supervisory Ex-President Günter Weninger include the financial statements from 2001 to 2004 that were not previously charged. The main offense of infidelity - with a punishment of up to ten years in prison - not confess Weninger continue.
Picture: Johann Zwettlerstrasse (image from 22.8.2007); © Vienna-concrete
On 26.11.2007 - the 53 day of the trial in the BAWAG process - made Johann Zwettlerstrasse (born September 27, 1941) for a surprise. He appealed to the BAWAG process in the Regional Criminal Court of Vienna from a partial confession. He confessed to having no time pressed the stop button, furthermore to have the breach of trust and falsification of accounts of the guilty. His confession part refers to the years 1998 and 1999. It was clear in early in November 1998 that the property and pictures from Wolfgang Flöttl were overvalued and had not been impaired. A result, the balance sheets of the subsequent years were wrong. However, the necessary adjustments were then rejected by Helmut Elsner (former BAWAG CEO) and the Günter Weninger (former BAWAG Supervisory Board Chairman). J. Zwettlerstrasse then agreed to yet other loans with Wolfgang Flöttl, cost the additional 694 million euros (9.5 billion Schilling). He had hope, has everything rückzuverdienen again.
He is the first defendant in the BAWAG case, of a confession. The other co-defendants did not make any confessions to survey the judge now.
Zwettlers previous stops:
* May 1995: under Zwettlerstrasse was appointed under BAWAG General Helmut Elsner in the BAWAG Board. Johann Zwettlerstrasse was responsible for accounting, controlling, investments and for parts of the Treasury.
* May 2003: Johann Zwettlerstrasse succeeds Helmut Elsner as CEO of BAWAG.
* October 2005: Zwettlerstrasse and BAWAG Board approved a credit flash over the weekend of over 350 million euros to the U.S. broker Refco. Days later, this credit is worthless.
* 1 January 2006: Johann Zwettlerstrasse lays back its function. His successor was Ewald Nowotny.
BAWAG process in October 2007:
8.10.2007: exclusion of a juror: Success for Elsner lawyer
Richtin Bandion-Ortner closed at the request of the lawyer by the defendant Helmut Elsner - Wolfgang Schubert - the juror Petra Z. from the process of.She had given a newspaper interview, saying this is that the processes be exhausting and you already takes too long. It saw the lawyer, but the judge partiality. The juror was replaced by the Ersatzschöffin.
20 Sept. 2007: Real estate sale of BAWAG
BAWAG now selling a part of your family silver, more specifically about 45% of your property. 15 properties with approximately 145,000 square feet are in brief - sold - and sometimes even more this year. This also has headquarters in Tuchlauben, Vienna is 1 District affected. Even the office building at the meat market / Rotenturmstraße - where the penthouses of ex OGB boss Franz Verzetnitsch and former BAWAG boss Walter Flöttl are - is to be sold. Hoped selling price: 500 million euros (6.9 billion Schilling).
Judge Claudia Bandion-Ortner:
Judge Claudia Bandion-Ortner at work. Vienna concretely adopted on 22August 2007 a site inspection before the Grand Courtroom of the district court of Vienna.
Photo: (center) Judge Claudia Bandion-Ortner passes the BAWAG process (left) of the Criminal Code (right) dictionary of financial terms; © Vienna-concrete
The negotiation process for BAWAG is public. Anyone can participate as a spectator. Admission is free. The negotiations usually begin at 9:15. Intake in the Great Courtroom is 9:00 clock. There is plenty of seating.
Input: Wickenburggasse 22, 1080 Vienna
Photos: Entrance to BAWAG process - waiting room prior to the start - Large Courtroom; © Vienna-concrete
11.8 - 19.8.2007 negotiations break in the BAWAG process
24 July 2007: A replay of the ORF program "Club 2", 17.4.1998 is in the courtroom played to The accused allowed to watch that journalists have to clear the first rows. More about the Club 2 - Send the ORF see below in 1998. Duration 1.5 hours.
16 July 2007: The Criminal in the BAWAG debacle begins
Causa: The Causa BAWAG is the largest economic process during the Second Republic of Austria
Location: Vienna Regional Criminal Court; 1010 Vienna
Criminal Judge: Claudia Bandion-Ortner (40 years)
Public: allowed; there is even a photo and film permit
Accused are 9 people, including 7 former board members or top manager of BAWAG (HelmutElsner, Johann Zwettlerstrasse, Günter Weninger, the former BAWAG board members PeterNakowitz, Christian Büttner, Hubert Kreuch, Josef Schwarzecker)
and the son of former BAWAG boss, investment banker Wolfgang Flöttl, and the Exwirtschaftsprüfer BAWAG and president of the Institute of Austrian auditors, Dr. RobertReiter. (Dr. Robert Reiter - 58 years old - was for many years a chartered accountant with KPMG and examined from 1993 to 2004, the BAWAG financial statements.)
The defendants are accused of embezzlement and accounting fraud to varying degrees.Damage Total: 1.44 billion euros. For you shall be valid until the end of the process, presumption of innocence. On day 1, the criminal trial of the persons and the financial position of the accused were taken. The sentencing hearing is scheduled for 31 October 2007 (World Savings) targeted.
21 June 2007: Ministry of Foreign Affairs terminated proceedings against BAWAG
The State Department terminated the administrative proceedings against BAWAG PSK because of wrongly blocked by BAWAG accounts for Cubans. It was about racist motives for Konetensperre. Punishment there will not be for BAWAG PSK, because the blocking of accounts has now been lifted.
Qu: Press release of the Außenminsteriums of 21.6.2007 Red: everything again "in butter." As simple as it can go.
21 June 2007: Elsner 4th Time before the Bank Committee of Inquiry In today's fourth and final questioning by the parliamentary Bankenuntersuchungsauschuß Elsner said that owner's representative, OGB CEO Fritz Verzetnitsch, already in 1998, was informed by the multi-billion dollar speculation losses of BAWAG from him. As a witness he called the then Chairman of the Board of BAWAG Günter Weninger. Certainly there were no subsidies to the SPÖ. Martin Slack was his friend.
15 June 2007: Alt-chancellor Franz Vranitzky before the banks U-Committee
Vranitzky (SPÖ) testified before the parliamentary committee, the Wolfgang Flöttl have counseled in the first half of 1999 on the introduction of EURO.There were - according Vranitzky - an untiring contract. The consulting service was also rendered by him tirelessly. He got this one million shillings.The fee he had received at the end of January 1999 by Flöttl, taxed and keep (ie not passed on to the SPO).
Editor's note: Wolfgang Flöttl jun. contests this decision. He said that there would have been better "experts" themselves when needed.
15 June 2007: Schwarzecker before the banks U-Committee
Ex-BAWAG Executive Josef Schwarzecker testified before the banking committee that he had seen in 2005, the former BAWAG CEO Johann Zwettlerstrasse, former Refco CEO Philip Bennett and former PSC CEO Stephan Koren together at the Vienna Opera Ball. Why he had before the U-committee he did not understand.
8 June 2007: Narkowitz before the banks U-Committee
According to former BAWAG CEO Peter Nakowitz had the then chief financial officer of the Austrian Trade Union Federation, Günter Weninger, as well as the former Austrian Trade Union Federation President Fritz Verzetnitsch - the Austrian Trade Union Federation was at that time owner of BAWAG - knew about the billion-dollar losses of BAWAG in 1998.
8 June 2007: Count speaks of a large network
The head of the parlamentarsichen banking committee assumes that since 2000 have known in the field of Accounting, Controlling, Legal and Investment Management from the damage that has occurred, all officers of the BAWAG.
Qu: press articles, APA message
April 2007 Rehab in beautiful Carinthia / Cuban Missile Crisis
26 April 2007: Foreign Ministries announced administrative proceedings against BAWAG PSK:
The Austrian Foreign Minister Ursula Plassnik announced in Parliament administrative proceedings of the Foreign Ministry against BAWAG PSK Bank - due to the termination of all accounts of Cubans - on. This is contrary to EU law (Regulation EC No 2271/96). Austria is not the 51st State of the USA and therefore did not apply U.S. law in Austria.
25 April 2007: Press Conference of the Cuban Embassy in Vienna
The Cuban ambassador in Vienna - Norma Goicochea Estenoz - sees a witch hunt BAWAG PSK Bank against Cubans. The discrimination against Cubans contrary to international law.It presents a few cases, including one that relates to an account at the easybank (= BAWAG daughter).
18 April 2007: Amnesty International, Red Cross and SOS Children's Villages
Considering ... to end their business relationship with BAWAG PSK Bank
17 April 2007: Opposition parties call for Government to change the House Bank: AAF: Peter West Thaler urges the federal government (Republic of Austria) on to change the house bank.
FPO: Alois Auer degree (budget speakers) calls for a re-tender of the Austrian government accounts. He can not understand why all services of the federal public procurement contracts, not only the leadership of the government accounts Green. Öllinger Karl, Social spokesperson for the Greens, BAWAG calls for an end to discrimination against Cuban nationals.Otherwise he will announce his BAWAG account.
KPO: Mirko Messner (KPO) also calls for the re-tendering of public accounts, which are currently at BAWAG PSK. Will that government guarantees and guarantees of the Federal Government for the BAWAG PSK from compliance with Austrian laws are made dependent. KPÖ'll check their business for BAWAG PSK.
13 April 2007: The Cuban missile crisis breaks at BAWAG PSK
The union bank BAWAG PSK had all Cuban customer terminated the accounts under their chief Ewald Nowotny. This has been known publicly. This has nothing to do with the losses of billions of BAWAG in the Caribbean, but with the new U.S. owners of BAWAG PSK from mid-May 2007. Converting a substantial storm of indignation and horror moved in with the savings and the public about the former Workers Bank.
5 April 2007: The BAWAG PSK Board decides to terminate Cubans
This board resolution for the time being remained secret. Only the affected Cubans received a letter from the bank.
2 April 2007: Elsner on Rehab in beautiful Carinthia
On 2 April 2007 Helmut Elsner was after his heart operation of his previous Ausfenthaltsort - the Bamherzigen brothers in Vienna (which is a hospital) - transferred to the rehabilitation center Treibach-Althofen in Carinthia. There he is to enjoy a spa stay at taxpayer expense for four weeks. While other spa guests received him with boos, to Carinthia's Governor Dr. Jörg Haider (AAF)called for the expulsion of Carinthia. The Carinthian Governor sent a letter to this effect to the Minister of Justice Maria Berger (SPÖ).
March 2007: Ex-Finance Minister Grasser loaded
5 March 2007: Test order of the ex-Finance Minister Grasser with desired results Default
According to the news magazine Profil to Karl-Heinz Grasser 31 May have sent via email about his employees Hans-Georg Kramer 2006 targets at the National Bank Director Josef Christl and the head of the Financial Market Authority Heinrich Traumüller (leave).
According to "profile" the result of the then ongoing investigations in the BAWAG Court Sub-Committee should be anticipated. Among the total of 90 questions following goals:
* Target - No transgressions of the authorities;
* Network of the Social Democratic Party responsible for the damage in the BAWAG and in the OGB;
* ÖVP / AAF-government to rescue the BAWAG and 1.3 million people from bankruptcy. "
The Opposotion foam. Whether an abuse of authority and an incitement to abuse of the ex-finance minister present is being checked. Karl Heinz Grasser rejects the accusations. He had only his hearing at the Court Sub-Committee on 8 Want to prepare June 2006. For him, the presumption of innocence.
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February 2007: Helmut Elsner versa involuntarily returned to Austria
21.2.2007 Elsner is operated Helmut Elsner morning were now set in the AKH bypasses the heart. The OPeration was successful. The operation cost borne by the taxpayer, as Elsner is currently a prisoner Justice / U prisoner.
16.2.2007 State Commissioner for BAWAG PSK Bank occurs after 16 days back, the new state commissioner at BAWAG, Hans Georg Kramer, has resigned in office after only 16 days. He was appointed by the Treasury. The former State Commissioner Helmut Brandl, the office manager of ex-Secretary of State Alfred Finz was at the Treasury, resigned with 31.12.2007. His deputy, deputy, Emmerich Bach Mayer was transiently to 31.1.2007 in this function.
Note: We can only wonder how many days the next state commissioner at BAWAG will be in office.
16.2.2007 AK-president before a parliamentary committee of inquiry,the President of the Chamber of Labour, Herbert Tumpel (SPÖ), was today charged with the parliamentary committee. He was from 1998 BAWAG Supervisory Board, and from 1989 to 1997, Chairman of BAWAG Bank. He and his wife Gertrude Tumpel-Gugerell he did not talk about professional. It was at this time in the Austrian National Bank was responsible for the internal audit of the OeNB (OeNB). Only after his retirement from the BAWAG his wife had had responsibility for banking supervision as OeNB Director, Herbert Tumpel.
15.2.2007 Former Justizminsterin Gastinger confirmed intervention trials of AAF-Chief West West Thaler Thaler is said to have used in favor of Wolfgang Flötl, the former Justice Minister Gastinger say (ex-AAF) and her press secretary Pöchinger. In the view of the Greens is to the west Thaler(AAF) is a strong suspicion of incitement to abuse of office. You submitted a statement of facts to the prosecutor. West Thaler denies and says he only inquires about the status of the investigation.
14.2.2007 Elsner in Wilheminen for alleged heart problems Elsner is transferred to Vienna Wilheminen. There is much more comfortable than in the judicial prison.
14.2.2007: Adjudicator Krausam imposed on remand Elsner
Adjudicator Gerda Krausam today imposed Wednesday on Helmut Elsner remand. The imposition of pre-trial detention should be exclusively done "because of danger of flight." Elsner remains voerst once in the hospital of the prison of the prison of Vienna Josefstadt.
Note: With legal experts do not consider it unlikely that Helmut Elsner is released due to the Austrian law.
Prison Vienna Josefstadt: Sunny morning on 14.2.2007; © Vienna-concrete
13.2.2007: physicians certify transportability Elsner; Elsner was today flown to Austria On Tuesday morning investigated expert doctors from France and Austria Helmut Elsner in France. They attested to its transportability. In the afternoon Elsner was retinues with the doctors air ambulance to Vienna. Departure 17:30 clock. The aircraft landed at 19.00 clock in Vienna. Counter 19:30 Helmut Elsner Josefstadt was admitted to the Vienna Regional Criminal Court / Prison Vienna.19:50 Elsner reached his bed in the infirmary of the prison of Vienna Josefstadt ("Grey House"). Within 48 hours, the investigating judge must decide whether to remand. For Helmut Elsner, the presumption of innocence.
According to prosecutor Georg Krakow it was all thanks to political influence "so fast". On a legal level, there would (still) have taken much longer. The new Minister of Justice Maria Berger celebrates her first experience of success in office.
(Note: After all, since the issuance of the arrest warrant five months elapsed)
4.2.2007: Alfred Worm died on the night of Herversagen
Alfred Worm - journalist and most recently NEWS Editor - worked from the spring of 2006 at the BAWAG case.
"... About the fugitive ex-BAWAG Director Helmut Elsner he said (Suppl.: Alfred Worm) a few weeks ago angry:" Against me is the pumperl but g'sund "...."
Qu daily Austria 6.2.2007, page 3
"... In the BAWAG scandal he saw" the biggest corruption scandal in truth the Second Republic. Against the AKH was a Lercherl, "he told me a few weeks ago And." BAWAG process will reveal a ungalubliche corruption story. But I do not know if I still want to do this to me, Wolfgang. I have thirty years trying to show the corruption in this country. But there will always be worse ... ""
Qu: Austria-editor Wolfgang Fellner about Alfred Worm; Daily Austria Issue 6February 2007 Page 5
January 2007: The authorities are working on the delivery
29 January 2007: Secret Meeting at "Just €" Today, there is a covert meeting of prosecutors from Frank olfactory and Austria "Just €" have expressed the purpose of supply of Elsner. "Just €" is the EU body for coordinating the cooperation of the national investigative and judicial authorities, based in The Hague (Netherlands).
December 2006: Ex-BAWAG boss celebrates Christmas under palm trees
30.12.2006: sold BAWAG PSK American Today the workers bank founded by Karl Renner - 1963 renamed "Bank for Workers and the Economy" - sold to an American financial fund. The owner OGB get for it in April 2007, 2.6 billion euros. Thus, the Austrian Trade Union Federation Austrian Trade Union Federation is saved from bankruptcy. For the 4500 bank employees BAWAG PSK Bank, there is no job guarantee.
23/12/2006: Elsner can journalists or newspaper claims Helmut Elsner's lawyer Wolfgang Schubert denied media reports and announces a lawsuit.The report of the Salzburger Nachrichten, it was reported that the former BAWAG boss Helmut Elsner said to have given in 2002 to the former consumer chief Hermann Gerharter 600,000 euro as credit. The money was allegedly then paid on a BAWAG bank. In March 2003, Elsner said to have fixed the passbook and handed over in a plastic bag to Gerharter. The loan is to finally have been booked as uncollectible. This should have been covered under other court costs of Hermann Gerharter after Kosumpleite. Under Hermann Gerharter the consumer had to declare bankruptcy in 1995, one of the largest in Austria's economic history in the year. Both gentlemen are presumed innocent.
=> Report of the Salzburger Nachrichten , 23.12.2006
=> Report ORF online , 23.12.2006
=> Report The default online 23.12.2006
=> Report courier online , 23.12.2006
21.12.2006: Contract signed shifted
The planned today for signing the contract for the sale of BAWAG PSK Bank has been postponed to the end.
20.12.2006? Helmut Elsner has left the hospital
The former BAWAG boss Helmut Elsner, left the University Hospital La Timone Marseille. This explained the prosecutor in Aix en Provence, Bertrand Charpentier, Friday 22.12.2006 at the request of APA. Elsner now hold on in his villa in Mougins, so the prosecutor. This is a beautiful Christmas at his villa in the South of France nothing in the way.
19.12.2006 OGB action: First hearing today would have moved the first hearing in the OGB action for damages against the former BAWAG PSK Board and other persons (Verzetnitsch, Weninger) should be. The date was in early December of 19 December 2006 to 30 January 2007 postponed. Reason: the sale completion of BAWAG PSK should not be disturbed.
14.12.2006 BAWAG PSK Award at American Fund
In a press conference BAWAG PSK Bank was informed today that the U.S. fund Cerberus to have been awarded the contract for 3.2 billion euros. Small blocks of shares to keep the POST AG, Wüstenrot, Generali and a few other Austrian companies. The purchase contract shall start on 21 December 2006 be signed. There is no job guarantee. The sale of BAWAG PSK Bank by the OGB was necessary to preserve the OGB from a possible bankruptcy.
1.12.2006: Elsner delivery is suspended Although the judges of the Supreme Court of Justice in Paris confirmed the delivery of Helmut Elsner to Austria, the French Advocate General Bertrand Charpentier has announced today that he expose the transfer to Vienna for the time being. The French Gerner Alan Walt wanted to wait "new information on Elsner's health".
November 2006: The banking inquiry committee brings in the BAWAG case explosive material to light
29 Nov. 2006: Elsner (BAWAG) to the banking supervision in the person of Mrs. Gertrude Tumpel-Gugerell ( OeNB have) a concealment of the "Caribbean transactions" denied.
"... Crisis meeting in the fall of 2000 in his opposition Büttner writes, Elsner stated, in an emergency meeting on 5 October 2000 that he had because of arranged by the Treasury review of BAWAG with the former Deputy Governor of the Austrian National Bank (OeNB), Gertrude Tumpel- Gugerell spoken. Tumpel-Gugerell, today on the Executive Board of the European Central Bank (ECB), was responsible for banking supervision in the OeNB.
Elsner had so Büttner explains in his objection, at this meeting that he had discussed with Tumpel that should be in the test report, the Flöttl transactions were completed. He, Elsner, Tumpel will still fully informed so that they could control the test accordingly. Explanation: The OeNB was and is for the specific Pürung on behalf of the Financial Market Authority (formerly the Banking Supervision) responsible.
Falsified Board Protocol
Büttner has the processes in the meeting of 5 October 2000 by handwritten memo three weeks later, on 25 October 2000, deposited in a sealed envelope at the Vienna notary Gerhard Schüssler. In the report there is actually the passage, after which the business with Flöttl are complete according to BAWAG. Head of the OeNB audit department was Peter Mayerhofer. This later became a highly paid consultant BAWAG. The letter addressed to Mayerhofer, confirming the BAWAG that all transactions must be completed with Flöttl contributes significantly, no date.
The background of the October 2000 meeting: Elsner and Co. was apparently clear that the BAWAG is broke. Therefore, the Protocol of 27 was October 1998 and forged by all the directors on 5 Signed in October 2000.
Weninger informed later
In it was a matter that had been allegedly discussed with Chairman of the Board Günter Weninger, not to inform the Supervisory Board of the Caribbean losses already incurred at the time. In fact, Weninger was informed by the BAWAG bankruptcy only after and had to use a liability, the total assets of the Austrian Trade Union Federation, so that BAWAG was accounted for.
Tumpel-Gugerells man, AK President Herbert Tumpel, was from 1987 to 1997 Chairman of the Board of BAWAG. Under him, the Supervisory blessed from the start Elsner in the Caribbean transactions. ... "
Source and more info => Upper Austrian News 29.11.2006
29 Nov. 2006: Paris Court of Appeal rejects appeal from Elsner
The Court of Cassation in Paris has the appeal Helmut Elsner against the extradition ruling of the lower court in France rejected. Reason: The first instance decision of the three appeal judges in Aix-en-Provence (South of France) had been content and form correctly. The decision of the French Court of Cassation is no longer subject to appeal.
27 Nov. 2006: EU can be with BAWAG exam time ...
The EU plans to initiate a review procedure against BAWAG. The government "bailout" - when the Republic of Austria in May 2006 using its own 900 million euros in guarantees for BAWAG PSK Bank Act took over - would have to be approved by the European Union in advance. This has not happened. The EU test could be completed by mid 2007. Until then, the BAWAG PSK should long since have new owner and completed the liability.Thus, the EU test results came much too late. Perhaps, then, the method is also ahead of schedule - set - due to elimination of the test substrate.
October 2006: The BAWAG scandal Chronlogie continues with bail, release and indictment
27 October 2006: Andreas Khol are Josef Taus blame According to an interview with the daily standard with the outgoing National People's Party President Andreas Khol, Josef Taus is to blame for the defeat of the ÖVP."The big turnaround came with the reporting of dew from Elsner."
Qu: The standard online from 27.10.2006 http://derstandard.at/?url=/?id=2639494
Photo: indictment, the prosecutor in the case BAWAG; © Vienna-concrete
25 October 2006: Vienna public prosecutor brings a chargeAccording to prosecutor Walter Geyer, the Vienna public prosecutor has brought charges against several people in connection with the BAWAG case in court. Beginning of the process to be February or March 2007.
* The former BAWAG Directors GeneralHelmut Elsner (71) and Johann Zwettlerstrasse (65)
* The former Board President and Chief Financial Officer OGB Günter Weninger (66)
* The business partner of BAWAG Wolfgang Flöttl (51)
* The BAWAG board members Peter Nakowitz, Christian Büttner, Hubert Kreuch, Josef Schwarzecker * balance sheet auditor Robert Reiter(KPMG), who has reviewed the financial statements of BAWAG since 1993
The prosecution puts the accused in scaled-down form - partly only as participation perpetrators - infidelity, serious fraud and accounting fraud before. The total damage estimates the indictment with 1.5 billion euros. The penalties if convicted is up to ten years in prison. According to the indictment the prosecutor's office in late 2000 was the BAWAG "at honest approach" insolvent.
Ex-OGB CEO Fritz Verzetnitsch has not yet been indicted by the public prosecutor. The tests are still running.
For all concerned, shall be valid to a possible final conviction, the presumption of innocence.
19 October 2006: France delivers from Elsner This afternoon the competent court in Aix-en-Provence (south France) after much back and forth decided that Helmut Elsner can be delivered immediately to Austria.Elsner's lawyer wants to legal remedies against it. According to the Ministry of Justice Elsner to be flown back to the air ambulance at government expense.
12 October 2006: Justice Minister Gastinger (Ex-AAF) approved indictment Justice Minister Karin Gastinger (born Miklautsch; Ex-AAF) approved the more than hundred-page indictment of the Vienna public prosecutor. Previously had been carried out by a department within the Ministry of Justice a few small changes.
4 October 2006: 1 million € bail in court arrived According to the French prosecutor Bertrand Charpentier the required security deposit of 1 million euros at the court in Aix-en-Provence has been received. Has paid his business friend Martin Slack. Elsner thus can the hospital "Le Timone" in Marseille - where he is in Morbidly since mid-September - leave. This Elsner is free 3 days after the Austrian national elections. He had, however, to give up his passport and must not leave France (alone).
September 2006: BAWAG scandal and the campaign
30 September 2006: French court gives bail amount for release Elsner announced this morning announced the French judge in Aix-en-Provence (South of France) that ex-BAWAG boss Helmut Elsner on payment of a deposit of one million euros, subject to conditions (eg passport leave) can come free. As Elsner Bank accounts are locked, it is dependent on outside help. Currently, Helmut Elsner is still in Ausliefungshaft in France.
19 September 2006: charges against nine people finished The indictment against nine BAWAG-Involved was completed in the afternoon by the prosecution. It comprises 106 pages. This week the indictment of the Minister of Justice (AAF) will be submitted. Next week it could be delivered to the accused. This is expected to Helmut Elsner (former BAWAG-General), Johann Zwettlerstrasse (whose longtime deputy and successor), Peter Nakowitz (Ex-BAWAG-Board), Josef Schwarzecker (Ex-BAWAG-Board), Christian Büttner (Ex-BAWAG Board), Hubert Kreuch (Ex-BAWAG-Board), Guenter Weninger (Ex-BAWAG Supervisory Board Chairman), Wolfgang Flöttl (investment bankers) and Robert Reiter (former BAWAG-Bilanzprüfer/KPMG) act.
19 September 2006: "Upper Austrian News" win against OeNB
The newspaper " Upper Austrian News "has won in court in the first instance against the Austrian National Bank. The Linz Judge Klaus-Peter Bittman considered it proven that a - trivializing - report of the Austrian National Bank was the trigger for the prosecution in 1994, had to close its investigation against BAWAG Bank. The OeNB appealed against the judgment.
15 Sent to a prison in Marseille Helmut Elsner: September, 2006
Known for playing golf 71 years Helmut Elsner was recognized by the French State prosecutor Bertrand Charpentier for adhering fit and admitted to the ports' Le Baumettes "the romantic port city Marseille. For the Putting on the golf course, it would be over for a long time.
15 September 2006: Landespolizeikommandat from Vienna to H. Elsner saves police fines have The suspended Landeskommandat of Vienna, Roland Horngacher, the family of former BAWAG boss should have Elsner police fines "saves" the Vienna public prosecutor. Furthermore Horngacher private police queries to have made for Elsner.
14 September 2006: Ex-BAWAG boss Helmut Elsner arrested former BAWAG boss Helmut Elsner was on the Cote d 'Azur (City: Mougins, France) arrested after a dawn raid by the French police. There was a flight risk and there would be new such evidence, the Austrian prosecutor, who previously issued a European arrest warrant. It will examine how sick Elsner real.Delivery to Austria to take place in the next 2 weeks.
14 (?) September 2006: Ex-ÖVP party chairman Dr. Taus with Ex-BAWAG Chief Elsner
For Josef Taus BAWAG has a special meaning. BAWAG-Bank for the past 15 years, the bank in its corporate group. Therefore Taus knows claims to their manager - the former BAWAG-Directors-General Walter Flöttl, Helmut Elsner and Johann Zwettlerstrasse - good. He was with his friend Manfred tickler in southern France and had "looked over" on call from Elsner's wife, Ruth, in Elsner on a private visit. A short time later was arrested (at Cannes) Helmut Elsner front of his villa in Mougins.
14 September 2006: OGB-balance sheet looks "Ghastly from" The OGB balance sheet for the year 2005 should already be completed. According to the chairman of the Public Service Union, Fritz Neugebauer, the OGB balance is already finished and she sees "Ghastly" from. Thus, the BAWAG Bank has brought the owner Austrian Trade Union Federation to the brink of bankruptcy.
13 September 2006: BAWAG committee called
The AAF (west Thaler) calls for the establishment of a parliamentary committee, the ÖVP (amon) refuses.
13 September 2006: Darabos: "At the sight of my children"
SPÖ Federal CEO Norbert Darabos publicly swore the "eyesight of his children" that the financial recovery of the SPÖ was done without the alleged grant of Wolfgang Flöttl.
13 September 2006: Mushroom claims the OGB have the SPÖ financed
According to Peter Pilz in the years 1993 - 2004 have flowed from OGB about the "Socialist Group Gwerkerschafter" 22.5 million euros to the SPÖ. These cash flows to be loud fungal legal, but problematic.
13 September 2006: Häupl speaks of "election campaign lie" Vienna's mayor called the statements by Wolfgang Flöttl that this money may have transferred to the SPÖ, the present state as "campaign lie."
13 September 2006: Flöttl jun. SPÖ wants to have financed
One of the main players in Zusammhang with the horrendous speculation losses of BAWAG, Wolfgang Flöttl indicates public to have the SPÖ financed.Once the funds have been transferred via Ex-Chancellor Franz Vranitzky.Vranitzky indicates cashes the money (several 10,000 euros) as a consultant himself and to have taxed, and have not forwarded to the SPO. He also had no mandate to do so. There is therefore no party financing of the SPÖ.
12 September 2006: required disclosure of the OGB's assets Chancellor Dr. bowl requires the disclosure of the OGB's assets. This was a basis for State liability of 900 million.
According to the BAWAG Act of 2006 states:
"... 4 agree to all direct and indirect owners of the financial institution willingto put their investment position of the Oesterreichische Nationalbank to 31 May 2006 open, the Oesterreichische Nationalbank is authorized to check out this investment position on the spot ...."
August 2006: New Details on the BAWAG scandal
31 August 2006: Innsbruck announces BAWAG As the Tiroler Tageszeitung reported that the city of Innsbruck has terminated the fund management at BAWAG. The fund's assets (rumored 124 million euros) had been withdrawn a few months ago. Reason, according to Mayor Zach: No more trust in the BAWAG
31 August 2006: Volksbank group does not want the BAWAG buy Pinkl Franz, head of the Austrian Volksbank Group ÖVAG, today announced this afternoon that ÖVAG do not plan to buy the BAWAG. The required selling price was too high. But you have continued interest in some areas of BAWAG.
29 Collapsed former BAWAG Chief Elsner: August, 2006
According to his lawyer, the former BAWAG General Helmut Elsner has collapsed in his villa in the south of France on Monday. He should have had a severe heart attack. Elsner was admitted to the emergency hospital.According to his lawyer Elsner is not interrogated, why the hearing has burst through the criminal police this week.
29 August 2006: First Bank and Wiener Städtische Versicherung out
The First Bank and Wiener Städtische Versicherung withdraw as a candidate for a purchase of BAWAG PSK Bank. The reason a discrimination against foreign applicants was specified.
23 August 2006: ÖVP wants to invite ex-finance the SPÖ
The former finance minister Andreas Staribacher (SPÖ), Viktor Klima (SPÖ and Rudolf Edlinger (SPO) are before the Court Subcommittee concerning statements of BAWAG events. SPÖ budget spokesman Christoph Mazen Etter want, however the incumbent Finance Minister Karl-Heinz Grasser (ex-FPÖ now close ÖVP) download.
17 August 2006: tax office pledged Elsner's assets in Austria
As the Wirtschaftsmagagzin "Format" reported in its edition neuersten, the tax office in Vienna has made repossessing in Austria by securing task the entire personal fortune of Helmut Elsner.
14 August 2006: Press Conference of the prosecution, as the spokesman for the prosecutor, Werner Geyer, announced in a press conference today Monday announced Mag Roland Horngacher was questioned last Saturday. In addition to the travel vouchers from the ex-BAWAG Chief Elsner is determined for further schwerfer allegations against Horngacher. Horngacher will have to be asked by a company which is active in a toy shop, a car for free. For Horgacher are presumed innocent.
Qu: daily Der Standard from 14 August 2006
11 August 2006: "Elsner sponsored Police raffle!" ... As the headline on the front page of the independent newspaper "Kronen Zeitung". According to the crown of the ex-CEO of BAWAG Bank to the police Tomboloa have sponsored. Chief of the National Police Headquarters in Vienna and former head of the Economic Police, Roland Horngacher, - for him the presumption of innocence - is said to have redeemed vouchers from the travel agency Travel agencies in Ruefa itself. This should have been thought (or not) according to Elsner for police tombola. It is about 150,000 shillings. The travel agency RUEFA was sold by BAWAG Bank to the Bavarian Landesbank in 1998.Horngacher was now on 9 August 2006 suspended from duty. Counter Hornbacher being investigated for abuse of office. There are emergency meetings at the Vienna police.
Qu: Krone Zeitung of 11 August 2006 title page, pages 10 and 11 now determines the case Horngacher / BAWAG and the Office of Internal Affairs (BIA) in the Ministry of Interior.
Qu: daily newspaper Die Presse, 10.8.2006
Currently, the former patrolman Mahrer leads - he is currently the National Police deputy commander - the business of the state police commands Vienna.
Knowledge: The ban on the acceptance of gifts by public officials is governed by § 304 of the Criminal Code. Sentencing range 1 to 3 years in prison, depending on the circumstances
July 2006: The BAWAG diary needs to be continued ...
13 July 2006: Ex-BAWAG boss Elsner the accounts were blockedReportedly, the business magazine "FORMAT" in its latest issue, the bank accounts of the former BAWAG boss Helmut Elsner in Austria were now locked. Work will also include the accounts of its foundations "birdie" and "gambit" have been locked. Prosecutor Gerhard Jarosch has confirmed this today.
7 July 2006: Social Democratic Party calls for a real investigation committee SPÖ finance spokesman Christof Matznetter calls in a press release a real committee of inquiry to investigate the abuses at BAWAG, Hypo-Aplen Adriatic, AMIS and the complete failure of financial supervision.
7 July 2006: BAWAG hearings in Parliament should When Auditors Sub-Committee in Parliament the former BAWAG Directors General Helmut Elsner and Johann Zwettlerstrasse, and the already retired OGB CEO Fritz Verzetnitsch and also retired OGB Financial Officer Günter Weninger the Members of Parliament are available for information. Sichheitshalber find the hearings held in camera. That would be too much but the transparency. As was to learn, individuals gave no information. Only Ex-OGB-President Verzetnitsch should have known repeated.
6 July 2006: BAWAG scandal was not a bank robbery
Budget spokesperson for the Greens: "... the comparison of the BAWAG scandal with a bank robbery, which also can not be prevented by the police, Kogler does not apply." Why do we have a police if and only if alarm is struck still nothing happens "he reiterates the BAWAG report of the Austrian National Bank (OeNB) from 2001 now, five years later, would only argued about the former omission of actions ....." Qu: Press release of the Günen 6 July 2006
4 July 2006: Finance Minister Grasser said at a press conference: The boards appear to have acted with intent and criminal energy. Also BAWAG-accountants KPMG have written a wonderful report, explained Grasser.
June 2006: The BAWAG debacle and his treatment of
30 June 2006: New York judge approved comparison Robert Drain, bankruptcy judge in New York approved the settlement of BAWAG with the creditors in the United States. This "wandering" again a round billion euros of Austria (BAWAG) in the U.S. (equity and bondholders).
28 June & 200: Federal President Dr. Heinz Fischer (SPÖ) over the BAWAG scandal In a Courier interview, Dr. Heinz Fischer on the BAWAG scandal position. It hurts him, gives him a headache and makes him suffer. He is just as shocked as the population.
28 June 2006: EU Commission checks Austrian State liability Currently checks the EU Wettbewebrskommission whether the state liability of 900 million euro is not in breach as unauthorized aid of EU competition law. As a result, there will be only in September 2006. Without this state liability wobbles the only just adopted annual accounts 2005 of BAWAG PSK Bank.
27 June 2006: U.S. judge moves approval of the deal
U.S. Bankruptcy Judge Robert Drain today but not - as planned - approved the agreement between BAWAG PSK and the creditors.
26 June 2006: tax payment of 3.5 million euros
Because the ex-BAWAG Chief Elsner had a "gelt cost advantage" of 7.1 million euros, is now calling the tax office 3.5 million euro income tax by the employer BAWAG. This will be refunded to the employee Elsner. I hope he pays.
22 June 2006: Prosecutor makes raids late but still leads the prosecution searches of 10 suspects in connection with the BAWAG scandal by and should it have been partially successful.
22 June 2006: The magazine News published the "BAWAG dossier" "TheBAWAG dossier "was 26/06, published by Alfred Worm with the news magazine and essentially contains the report of Austria Sichen National Bank of 3 May 2006. The auditor of the OeNB and the FMA come to a devastating result.
21 June 2006: BAWAG in Parliament The AAF presented an urgent request for BAWAG-issue in Parliament. Finance Minister Grasser (ex-FPÖ) stated that the whole BAWAG damage probably accounts for more than 3 billion Euros.
21 June 2006: Just raids on the day, where supposedly all the Viennese executive is employed with the state visit of U.S. President Bush, there were numerous house searches. Probably the former BAWAG boss and former BAWAG Supervisory Board members are affected. More details did not want to announce the prosecutor's office. Man looking documents, board minutes and the verloreren "billion-treasure". Work will also include bank accounts be "opened".
14 June 2006: OGB's Board since Sept 2005 known "9/11": According to the Austrian Trade Union Federation Vice President Klein the whole board knew ("Bureau") since September 2005 by the 1.5 billion euro debt, the Austrian Trade Union Federation of the BAWAG took over. Shortly after Vice President Klein took that statement back. So what now?
PS: The OGB Bureau have consulted: Sallmutter, Nuremberg, Driemer, Csörgits, Bachner, Leutner, Weninger, Small, Hundstorfer and Verzetnitsch.
14 June 2006: The rescue capital from the competition is, Who pay much (must):
* 100 million Euros by Bank Austria,
* 100 million euros of Raiffeisen Central Bank (RZB),
* 100 million euros by Erste Bank
* 50 million euros by ÖVAG / Investkredit Group
* 25 million euros from the insurance Uniqua, Wiener Städtische, Generali and Allianz.
It was established in a complicated-engineered specialty finance company for the Bank and for the insurance of BAWAG PSK.
13 June 2006: the halt of new OGB Central OGB CEO Hundstorfer: It may be that we look for a new house. The groundbreaking ceremony for the new building of the Austrian Trade Union Federation headquarters in the Hohenstaufengasse in Vienna took on 9 Verzetnitsch September 2005 before.
Quote from OTS0196 2005-09-07/14: 12
"Here we are on historic ground, here there used to be a misery wall," said Verzetnitsch that it recognizes a good symbol: "We trade unionists always fight for improvement, we do not describe, but create something new."
13 June 2006: City of Innsbruck draws money from BAWAG PSKAccording to Innsbruck Mayor Hilde Zach had the assessed at BAWAG PSK funds in the amount of 124 million euros given her sleepless nights. Therefore, now the city senate has approved a withdrawal of funds and alternative investment.
12 June 2006 OGB 2 billion euros debt?
As announced in the media, should be 2 billion euros at BAWAG the current level of debt of the Austrian Trade Union Federation. Due to its many and holdings of OGB is not broke.
8 June 2006: Aviso BAWAG compared to 1 billion euros cost (13.8 billion Schilling) On 8June to approve a proposed settlement of BAWAG PSK Refco victims. BAWAG PSK offers $ 675 million and would give up their claims of 350 million euros. Furthermore, it assumes the legal fees. Power in total about 1 billion euros or 1,725 shillings per Austrians and Austrian.
6 June 2006: Annual Press Conference Today BAWAG, BAWAG PSK Bank presented to the public before the bank's balance sheet in 2005. It was explained how you could record a million profit (6.3 million euros) despite billion loss, thanks to the Austrian taxpayers. More details in our article .
5 June 2006: BAWAG and OGB buys "free" BAWAG PSK has negotiated with the U.S. plaintiffs a (disgustingly expensive) comparison. If this is approved by the committees, BAWAG likely to further court proceedings and prosecutions in the United States missed.U.S. authorities, creditors and investors have insured in the comparison to strain against BAWAG PSK Bank and its owner OGB no further prosecution. But freedom is just worth something.
=> The BAWAG PSK release dated 5.6.2006 on the subject
1 June 2006: BAWAG rating to "D +" lowered the U.S. rating agency Moody's, the rating of BAWAG PSK - Bank of "D-" reduced to "E +". That's the second-worst rating level in the rating scale Moody's.
May 2006: The BAWAG scandal and the rescue by 8 million Austrian taxpayers
31 May 2006: No liability letter - no 2005 balance sheet BAWAG PSK balance in 2005 delayed further. If there is still no federal guarantee (liability letter). The EU Commission has made competition concerns. Ultimately, the BAWAG PSK can still impose any balance of 2005.
30 May 2006: Law for the Federal liability is in force sigh of relief for the OGB and BAWAG customers: The Law for the Federal liability (taxpayers responsibility) for BAWAG PSK is in force. So that the Minister of Finance is authorized to take over a 900 million euro (12.3 billion Schilling) liability for BAWAG PSK named the Republic of Austria. If the guarantee is due, then pays the Austrian taxpayers.
28 May 2006: AK-President and former BAWAG Supervisory chief denied his resignation AK President Herbert Tumpel - he was the chairman of BAWAG in the years 1987 to 1997 - will see no failings of his hand, and excludes a resignation, according to the trend magazine continues . That's when a part of the controversial Caribbean BAWAG transactions.
22 May 2006: First Bank and Wiener Städtische ... have no interest to join the BWAG PSK.
13 May 2006: OGB could equally go bankrupt ...
"What we certainly do not adhere to, these are the losses of the Bank of the United States," said CEO OGB Hundstorfer in today's Courier interview. The Austrian Trade Union Federation had nothing to do with this matter and would, in such a liability "can go straight in de bankruptcy".According to the testimony of Hundstorfer of 1 May 2006, but has assumed an unlimited liability for the BAWAG the OGB. This results in certain contradiction.
11 May 2006: Federal Council decides the BAWAG-law
The Federal Council has the so-called "just three days after the National BAWAG-PSK security law decided ".
10 May 2006: BAWAG sells 26% stake in Bank Frick Lichtenstein BAWAG PSK vekauft its 26% stake in the Frick Bank in Liechtenstein to the Combinvest. BAWAG in 1998 was a founding shareholder and now makes spot.So she gets much needed liquidity. The Combinvest has just 4% of the shares - which were held by Refco - bought. The purchase price was not disclosed.Wiener Städtische will retain a 25% on their life insurance subsidiary.
=> BAWAG Press Release 10 May 2006
8 May 2006: BAWAG Security Act adopted today, the National Council a "BAWAG-PSK security law decided ". Thus, the Republic of Austria takes over (= Austrian taxpayers) in addition to the existing 5 billion euros additional compensation in the amount of 900 million euros for BAWAG.Chancellor Dr. bowl spoke in the debate believe that a collapse of the BAWAG had to be prevented. Bowl wants a "fully investigate" but no parlamentarsichen committee. According SPÖ leader Gusenbauer have the "criminal intelligence" obviously works better than the control. For Green leader van der Bellen saving the union bank BAWAG is a "bitter necessity."
8 May 2006: Special Session and special broadcast of the ORF
The National Council holds a special meeting today to rescue the BAWAG and the OGB. The special session is transmitted in a special broadcast of the state broadcaster ORF from 9:00 clock.
5 May 2006: New class action lawsuits by shareholders in the United States were introduced new class action lawsuits against BAWAG PSK. The argument value is specified with more than 100 million euros, but not befziffert.
4 May 2006: Finance Minister Grasser for BAWAG "Based on current knowledge, BAWAG is saved."
4 May 2006: BAWAG brings penthouse suit a How BAWAG PSK Bank announced today that it has filed a lawsuit against the so-called Penthouse for Sale (1010 Vienna, Tuchlauben 7) of the Provincial Court for Civil Matters Vienna. Likewise, an eviction action against Ruth Elsner, the buyer of the property, and wife of former BAWAG boss Elsner.
=> BAWAG Presseausendung 4 May 2006
3 May 2006: U.S. lawyer John Coffey says the U.S. attorney, it would be premature to say that there is to BAWAG in the U.S. no longer Klagsrisiko.There is on the one hand, the class action possibility of the injured party, and secondly a way to action for securities fraud.
3 May 2006: EU criticizes bailout for BAWAG PSK * the EU has not been reported after
* Required notification of state aid
* Could be an unlawful subsidization of a competitor
* Could lead to distortions of competition
2 May 2006: queues at the switches BAWAG While there are still many customers want to bring their money into security and withdraw money from their accounts of BAWAG, bowl and Haider demonstrate their confidence in the BAWAG: They open at BAWAG demonstratively a savings account. Even if the small deposits of Federal bowl (ÖVP), National President Khol (ÖVP) Vice Chancellor Gorbach (AAF), Finance Minister Grasser (ex-FPÖ, now ÖVP) and Haider (ex-FPÖ, now AAF) not save the BAWAG be so that is still an encouraging, positive signal. The VIP-savers were served by BAWAG boss Dr. Nowotny highly-personal.
2 May 2006: The rescue package for BAWAG PSK * The federal government takes over a 900 million guarantee for BAWAG
* The Mtibewerber (banking and insurance) pay 450 million euro as their capital at BAWAG, so this liquidity gets
* Federal government wants to take over the 20% equity stake of OGB and BAWAG to nominal (thus almost given)
* It requires legislative changes, on the one hand for the State liability and on the other hand the changes in the OeNB.
* Apparently there is already an agreement with the Refco Gäubigern. 870 million euros are "frozen" in the United States as collateral.
1 May 2006: crisis meeting at the Federal Dr. bowl In the night there was a crisis meeting. Chancellor, Finance Minister, BAWAG boss, OGB-President and bank representatives deliberated on a bailout of BAWAG.
1 May 2006: Supervisory Board meeting of BAWAG Although Holiday was at 16.00 clock a Supervisory Board meeting of BAWAG PSK Bank instead. It was a question that can be averted the threat of U.S. lawsuits. The BAWAG Management Board reports on the state of negotiations
1 May 2006: New (unlimited) OGB guarantee for BAWAG According to the daily courier gave the OGB under the new leadership of Rudolf Hundstorfer against regulators, Treasury and Balance Sheet auditors a written and an unlimited guarantee for BAWAG from.
1 May 2006: day of hard work was still morning on Town Hall Square to mark the first Celebrated May, so it was in the afternoon to do heavy work until midnight.
Quotes of the first Maiansprachen at the Town Hall Square:
* Quote OGB CEO Hundstorfer ". ... YES, BAWAG story is a scandal, but we have aufgräumt ...." => Click
* Quote Häupl: "the new leadership in the BAWAG with the employees, the new leadership in the OGB as owners have set about to eliminate with an almost Herculean effort, this pigsty that is happening here ...." => Click
* Quote SPÖ leader Gusenbauer: "... You do not live in a penthouse, the one does not enjoy, especially if you have speculated billion euros The city is beautiful even without penthouses, dear Comrades ...! . the spiritual-moral and political renewal of our country means to do away with contractors and con men, whatever Coleur .... " => Click
April 2006: BAWAG PSK bank can not go bankrupt ...
30 April 2006: Ex-head of OGB Verzetnitsch the OGB dismissed as only on 3 May it became known ex-boss OGB Verzetnitsch the new OGB CEO Hundstorfer was dismissed. Previously, he had been President of the Austrian Trade Union Federation 19 years. Through the release, Mr. Verzetnisch would (probably about 150,000 euros) and its OGB pension entitlement losing clearance (about 6000 euros per month). Verzetnitsch wants to appeal the dismissal: "What are we to the labor court again."
Ex-Finance Minister Dr. Androsch (SPO) in the online standard interview of 3May 2006: "If an employee 19 years" in the business "and so leaves a crap, that's a reason for dismissal probably also holds law.."
29 April 2006: settlement negotiations failed BAWAG PSK boss Ewald Nowotny time being clever with a settlement offer in the U.S. creditors. Was negotiated in London. BAWAG PSK to have offered about 400 million euros for a comparison and wanted to tomorrow's decision by a U.S. judge in New York on the approval of $ 1.3 billion lawsuit to prevent. From the BAWAG PSK had no comment.
28 April 2006:. U.S. deal will not kill BAWAG "..." We need a bit of rest, "said Walter Roth Steiner, chairman of the Federal Credit division in theChamber of Commerce Austria Whatever come out in the U.S. and whatever the Refco bankruptcy judge decide which will not kill the BAWAG, Roth Steiner told the APA .... "
Qu: APA and Der Standard
28 April 2006: BAWAG is solvent According to the OeNB Governor General Dr. Klaus Liebscher BAWAG is solvent. "It is about to break, do not panic."Qu: ORF Mittagsjournal 28 April 2006
More info about OeNB and testing of BAWAG PSK: => Click
28 April 2006: BAWAG PSK can not go bust - or is it ex-Finance Minister Hannes Androsch thinks that BAWAG PSK can not go broke?. The Kolateralschaden for the financial center Austria would be too great. This can afford neither the government nor the central bank nor the other banks. The customer will see the different. Many of you prefer to ask yourself in the queue and quickly raise their money from, before it is too late. Thank stuck in the false promises of consumer bankruptcy still in the bone. Also belonging to the trade union consumption was considered unsinkable ship, before he slid into bankruptcy.
28 April 2006: Higher write-offs
As the magazine Format reported that the write-downs for the Jericho Project is (Casion and Hotel) not 120 million euros, 165 million euros but.BAWAG boss Nowotny: "The loans are not recoverable." Actual impairment is still open.
28 April 2006: nerves of bank customers at the end
Many BAWAG PSK customers bring their savings to safety. They raise the money from her on BAWAG PSK accounts and carry it to another bank. The risk of loss is currently just very high. Including the high risk carry, if you can avoid it? How much money is actually not currently wants flows daily from the bank, the bank announce.
28 April 2006: OGB-chief: "situation is dramatic"
For OGB chief Hundstorfer the position of BAWAG is dramatic. This set has great importance in so far, since the OGB is the owner of BAWAG PSK Bank.
27 April 2006: BAWAG Bank settlement offer BAWAG PSK bank wants to make the U.S. plaintiffs a settlement offer. It wole avoid the period of uncertainty and can cost a little comparison also. How much remained open.
27 April 2006: No sale stop Despite the turmoil around the union bank BAWAG PSK, there is to date no cessation of sales for the bank. Only question is, who is going to buy there.
27 April 2006: No state subsidy or guarantees According to Chancellor Dr. Wolfgang bowl and Finance Minister Karl-Heinz Grasser, there will initially be no state subsidy or guaranteed by the Republic footer.condition.austria. We trust that the BAWAG Board has the situation under control. For bowl not an issue.
27 April 2006: National Bank shall aid for BAWAG-PSK question: What to do if BAWAG gets into trouble? Whether there is already an answer is not currently known. The OeNB will BAWAG in any case help with liquidity.
27 April 2006: Hotline for Austrian BAWAG customers The hotline of the Consumer Protection Ministry is under the number 0800/206138 in the from 9.00 bis 15.00 clock. According to Kon sumentenschutzstaatssekretär Dolinschek many people do worry about their savings. Safety's sake Some raise their deposits from.
26 April 2006: U.S. judge freezes assets BAWAG an on handling the case U.S. judge has engaged on last night passed a resolution to freeze the assets of BAWAG PSK in the USA. This should serve to hedge a class action lawsuit in the amount of $ 1.3 billion against BAWAG. Creditors accuse the BAWAG aid for accounting fraud.
21 April 2006: Attorney Creates against auditors report as the Upper Austrian News (current edition), the prosecution should now have also initiated action against the auditing firm KPMG. KPMG has since 1995 tested and confirmed BAWAG balance sheets as an auditor. The auditor's report for 2005 is still open.
20 April 2006: The search begins buyers OGB Bureau decided the investment house Morgan Stanley U.S. with the search for a buyer for BAWAG PSK Bank.
20 April 2006: Prosecutor against Verzetnitsch and Weninger As the crown newspaper (today's edition) reported, should the prosecution preliminary investigations pursuant to § 255 shares law against former chief OGB, Verzetnitsch, and ex-Chairman of the Board of BAWAG, Weninger, have initiated.
18 April 2006: resignation of Rudolf Nürnberger The head of the metalworkers union Rudolf Nürnberger (SPÖ, Austrian Trade Union Federation) today announced his resignation. "The whole thing ... all the misery, all that has happened that has made me deeply I pack 'mentally ... not.": He wanted his resignation did not comment initially, so little was known later. BAWAG affair and the conflicts over the OGB presidency were too much for him. As of 1 June 2006 is the 61-year-old retired.
13 April 2006: total loss of over 2 billion euros already (about 27 billion shillings) The speculative losses (including interest) by Wolfgang Flöttl to be 1.8 billion euros - so the magazine in its NEWS neuersten issue?. There would also the 350 million for the Refco credit.
The speculative losses were likely to be veiled in eight financial years. As the source for financial market supervision is given. BAWAG PSK Bank denies the damage and called 999 million euros as damage.
8 April 2006: Annual Press Conference without net At the press conference of BAWAG PSK Bank presented no balance. Rather, it was announced that in addition to another audit firm KPMG will involved - namely Deloitte. (Deloitte had early April 2006, their audit opinion for the 2004 Review of Hypo-Alpe-Adria Bank withdrew that is struggling with similar problems, why Deloitte has ever fired a attestation for Blianz 2004, remains questionable.) Wielang additional testing of BAWAG will take, we do not know.Where, on the Refco affair about 60 million euros in savings deposits deducted from the customer, it was after the "Caribbean-debate" 3-4 million euros a day.
7 April 2006: New Supervisory Board at BAWAG PSK BAWAG PSK bank receives a new composite and from 14 to 9 members reduced Supervisory Board. Dkfm. Dr. Siegfried Sellitsch (Chairman), former DG Wr. Urban is Chairman of the Board. Were replaced the boards: Günter Weninger, Rudolf Kaske, Eduard Aschenbrenner, Herbert Aufner, Erich Folgar, Peter Stattmann, Walter SUMETSBERGER, Christopher Sykora, Gottfried Winkler, Walter Zwieauer, Leo Wallner, Rudolf Jettmar. Why Alfred Leitner high and Werner Muhm remain is unclear.
6 April 2006: Interim chief of the Austrian Trade Union FederationHundstorfer is appointed by the OGB federal board until regular OGB federal congress in 2007 as Executive President of the Austrian Trade Union Federation. It follows the 27 March resigned OGB CEO Verzetnitsch after.
1 April 2006: The works council has its say
Council is against a total sale of BAWAG
Chairwoman Ingrid Streibel-Zarfl demanded on today in a press release, the OGB should continue to hold a stake in the bank. The employees "feel betrayed and left alone." For next Monday a staff meeting at BAWAG PSK has been used.
March 2006: Auffliegend of BAWAG-PSK scandal; all controlling bodies and supervisory authorities should have failed
31 March 2006: Ministry of Finance had been deceived
Finance Minister Karl-Heinz Grasser, who has come under fire even difficult - some would say, the Financial had failed completely - starts an offensive discharge. He has hinted legal consequences against the auditing firm KPMG in the matter BAWAG on Friday and declared that his ministry had been deceived. As evidence it submitted a report dated 5 March 2001 before."From today's perspective, no significant change in the risk and earnings situation of the bank can be seen".
30 March 2006: SPÖ leader for the sale of union bank
SPÖ chairman Gusenbauer is for the sale of BAWAG. The OGB should be separated by BAWAG. The Federal Executive Board of the Austrian Trade Union Federation decides in the evening to try to BAWAG sell completely. This would gewesen.29 perteiunabhängige a decision of the Austrian Trade Union Federation. March 2006: Finance Minister Grasser looks at BAWAG financial scandal a setback for the financial center Austria and says he had been lied to.
28 March 2006: BAWAG and Causa Atomic exposition of the facts of the lawyer Werner Messner to the prosecutor. It will argue that BAWAG had the ski manufacturer Atomic and its founder Alois Rohrmoser chased the end of 1994 in bankruptcy to hide losses from Caribbean shops in the insolvency proceedings.
28 March 2006: Dr Androsch for BAWAG sale Ex-Finance Minister Hannes Androsch (SPÖ) thinks that the OGB should be separated by BAWAG Bank.
27 March 2006: BAWAG Supervisory Board Dr. Leo Wallner (he is also Director General Casino Austria) certifies to ex BAWAG-Bank Chief Elsner excellent skills and a very good instinct
27 March 2006: Supervisory Board meeting at BAWAG:
Resignation of four current board members of the BAWAG PSK: Dr. Christian Büttner, Peter Mag Nakowitz, Dr. Josef Schwarz Ecker, Hubert Kreuch.Aufischtsrat decides claims for damages against Helmut Elsner, Johann Wolfgang Zwettlerstrasse and Flöttl to consider.
27 March 2006: Prosecutor shall issue arrest warrants
The prosecutor Dr. Ronald Schön, acting arrest warrants against former Refco CEO Phillip Bennett and the son of former BAWAG-General Walter Flöttl, Wolgang Flöttl.
27 March 2006: CEO OGB occurs but back OGB Verzetnitsch chief resigns as CEO OGB and SPÖ Member of Parliament back immediately. His monthly pension is from now about 11,000 euros. His interim successor is called Hundstorfer, a skilled office apprentice who has worked his way up. Currently, the Chairman of the Vienna City Council.
26 March 2006: OGB boss does not want zurücktrten It is Sunday. OGB chief Verzetnitsch excludes a resignation. "Why should I resign?"
24 March 2005:. Press conference at the headquarters BAWAGSupervisory Board Chairman Weninger announces that there has been in recent years, losses of about 1 billion euros at BAWAG. To avoid bankruptcy, a guarantee from the strike fund of the Austrian Trade Union Federation was issued. Of these, only knew OGB CEO Verzetnitsch and he OGB as chief financial officer. Mr. Weninger announced his Supervisory Board mandate with 6 April 2006 to phase out. Zurücktrten he did not. Neo-bank chief Nowotny: "The Bank is clean and safe .... The balance sheets were always correct .... There is no liquidity problem ....".
More info on the press conference => Click
22 March 2006: Press release of the BAWAG PSK:
The losses from the Caribbean transactions are processed completely
17 March 2006: BAWAG announces profit for 2005 Press release of the BAWAG PSK: BAWAG PSK 2005 balance sheet will report a profit.
1 January 2006: Dr. Ewald Nowotny is new BAWAG-PSK chief
+ + +
17 November 2005: BAWAG Bank chief Zwettlerstrasse explained after today's Supervisory Board meeting surprisingly his resignation at year-end 2005.
16 November 2005: BAWAG PSK Bank is suing the company Refco and its chief Phillip Bennett. The allegations are denominated in fraud, enrichment, misrepresentation. The Bank requires the repayment of a loan amount of 350 million euros. The prosecutor's office is already on.
11 November 2005: The FMA passes after submission of the report in a an official investigation at BAWAG PSK Bank.
21 October 2005: The Financial Market Authority prefers her special. On-site inspection will take place from now on. All major lending - particularly the in Refco - will be screened by the authorities.
20 October 2005: First Special Session of the BAWAG Supervisory Board
18 October 2005: The New York Stock Exchange Refco sweeps around two months after the IPO delisted. Refco Group is insolvent. Creditor protection under Chapter 11
17 October 2005: BAWAG PSK confirmed that the loan has been fully exploited.
October 16, 2005: BAWAG PSK Bank announced to be affected by credit line of 425 million euros.
14 October 2005: Trade with Refco's shares on the New York Stock Exchange will be suspended.
13 October 2005: The company Refco stops transactions by its subsidiary because of lack of liquidity. The closing price of Refco shares falls to $ 7.90.
12 October 2005: Philip Bennett is temporarily arrested on suspicion of serious securities fraud. The share price of Refco stock crashes to $ 10.85.
10 October 2005: A high-BAWAG loan amount is paid to Refco. It is known that the Refco balance sheets since 2002 are to be treated with caution. The share price of Refco breaks to $ 15.60 ($ 1.65 billion loss in value in the stock market).
9 October 2005: It's Sunday. Board deliberations in the BAWAG in Vienna lending to Refco
8 October 2005: Refco CEO Philip Bennett is removed from the access authorization for the company headquarters.
7 October 2005: Refco CEO Philip Bennett is interviewed criticized for having veiled $ 430 million of nonperforming loans before the company.
8 September 2005: Meeting of BAWAG It's about the BAWAG PSK fusion..Hundstorfer represents Verzetnitsch. The representation contract he should have received only a few hours before. He signs the attendance register. It was decided the assumption of debt of 1.5 billion euros. According Hundstorfer but he had not known, for which he gave his consent. (Known June 14, 2006)
11 August 2005: IPO of Refco. Issue price of the shares is $ 22.
May 2005: Refco reported in advance of the summer IPO on news of the U.S. Securities and Exchange Commission for investigation and possible indictment for speculation.
June 2004: BAWAG sold its 10 percent stake in Refco in the U.S. investment house Thomas Lee Partners.
2003: Mag Peter Nakowitz is BAWAG-Bank Board Member
2003: Helmut Elsner retires as BAWAG-Bank boss and to 3.6 million euros received at check-in. He is succeeded by Johann Zwettlerstrasse.
30.1.2002: Stand BAWAG in 2002 on the edge of the abyss?
"... There lies before us the request of the Regional Court St Pölten to consent to the prosecution of Abg Harwanegg for violating § 111 of the Criminal Code. Specifically, it is a question that the private prosecutor Helmut Elsner has filed a criminal complaint, the following facts . located In the issue 43 of the periodical publication "Format" under the heading"Standing on the verge of collapse", an article in which the accused Volkmar Harwanegg through the private prosecutor Helmut Elsner was quoted as saying: "I liked BAWAG boss Helmut Elsner accused that I will inform the media about internals. It is lied and manipulated. "The private plaintiff Elsner sees this as a violation of the Penal Code § 111. Members of the Quorum of immunity have met on 15.1.2002 and unanimously decided to put to Parliament a proposal whereby colleague Abg Harwanegg is not extradite. ... "Qu: Website of the City of Vienna Protocol of 30.1.2002
27 April 2001: an alarming report of Austria Sichen National Bank BAWAG concerning submitted to Finance Minister Grasser. This breaches the Banking Act were likely to be identified.
1.12.2000: the Austrian National Bank in late 2000 is entrusted with a special Ministry of Finance.
2000: BAWAG boss Elsner receive a special bonus This special premium to have amounted to 8 million shillings, according to the Upper Austria Sichenmessages.. Reason: of successful PSK purchase
2000: BAWAG PSK Bank to Bank buys 1.3 billion shillings
2000: BAWAG losses in the Caribbean are already the 13 billion shillings (€ 1 billion) have reached limit. This loss of business should be publicly known until March 2006.
May 1999: The BAWAG buy 10 percent of the U.S. securities and commodities trader Refco.
1998: In 1998, said to have been sunk by currency speculation in the Caribbean additional 500 million euros.
1998: 8 Mai: Per injunction we enjoined on BAWAG to ask the journalist Lilo palm further questions. Alone ask questions by working them damaging statements.
1998: profile journalist Lilo palm brings a statement of the facts in the police sector in terms of BAWAG.
1997: Chairman of the Board Herbert Tumpel will be replaced by Günter Weninger
1996: Dr. Christian Büttner goes to BAWAG Bank Board.
1995: investment and speculation in the Caribbean will be resumed by BAWAG. Supervisory Board Chairman Herbert Tumpel (OGB, AK, SPÖ) is said to have approved the new Caribbean business. Already this year, losses of 500 million euros to have incurred. Have known it is likely only a very small group of people.
May 1995: BAWAG boss Walter Flöttl leaves the BAWAG. His successor is called Helmut Elsner. Zwettlerstrasse is BAWAG Board.
5.12.1994: The OeNB shall submit a report on the special business of the BAWAG. In it she has found numerous deficiencies. One of the key allegations of the OeNB is that the transacted through offshore companies investments were deliberately fragmented to in order to not seek the approval of the Supervisory Board must.
1994: The ski company Atomic is sent by BAWAG in bankruptcy.
1994: Under Bank-chef Walter Flöttl the Caribbean business were hired.
17 May 1994: Today was a legendary club 2 broadcast on ORF television instead. The central theme: Must speculate a workers' bank?
In addition to the discussion leader Jens Tschebull discussed: BAWAG BoardHelmut Elsner, (later CEO of BAWAG and since 2005 the accused, and he took the BAWAG boss Walter Flötl), Anton Benya (1963 to 1987 President of the Austrian Trade Union Federation, the Austrian Trade Union Federation was then BAWAG- majority shareholder; Benya came instead of the incumbent union president Fritz Verzetnisch because Verzetnitsch canceled), the SPÖ finance spokesman Ewald Nowotny (later from 2006 BAWAG-General) in the German banking scientists Ekkehard Wenger, former finance minister and ex-CA-bank chief Dr. Androsch (SPÖ), stock market investor orspeculator--Michael "Mike" Lielacher and two journalists of the magazine "News" and "Business Week". With reports on the Caribbean BAWAG transactions, the two journalists had brought the Causa shortly before the public.
Helmut Elsner: "It was not speculation, the risk was very small, not worth mentioning." Anton Benya: "..'s Close to your's all beside We have just reduced the shops, so we have a Ruh 'The guys there are all okay."Androsch: "We must at all to assume that the entire global credit system has become riskier" Ewald Nowotny: "take such risks and distribute them to be a characteristic of modern banking"
1991: Mag Hubert Kreuch is BAWAG-Bank Board
1987: Herbert Tumpel - the current Abeiterkammerpräsident - is chairman of the board at BAWAG Bank
1981: Wolfgang Flöttl, son of BAWAG-Bank chief Walter Flöttl, founded the investment firm Ross Capital, headquartered in Bermuda. From the mid-90-ziger years he invested to BAWAG in various portfolios.
1963: The Workers Bank is renamed to "Bank for Workers and the Economy" - short BAWAG.
1947: The Workers Bank shall become operational again
1934: During the February Revolution, the workers bank will liduidiert
1922: The Workers Bank is founded by Karl Renner. The time was geprängt of inflation and mass unemp