US EditionFinancial Fraud at Caritas: Fine of Almost 5 Million Euros for the Savings Bank
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5 Articles
The Financial Supervisory Authority ordered Spuerkeess to pay close to EUR 5 million for a breach of its due diligence obligation.
BGL BNP Paribas escapes punishment
The Financial Supervisory Authority has sent the Spuerkeess to pay almost five million euros for a breach of its due diligence.
As part of the financial fraud at Caritas, the savings bank has now been fined almost 5 million euros by the CSSF.
The Spuerkeess is sanctioned for failing its controls in the Caritas case. The five million euro fine weakens the management and challenges its unsaid before the deputies. The BGL escapes the fine, but not an embarrassing press release. Françoise Thoma's days, posted since 2016, would be counted at the orders of the "Spuerkeess". The general manager of the public bank, and part of its management team, may indeed not survive the surprises of the …
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