French Court Set To Extradite Ex-Bawag CEO

Law360, New York (September 29, 2006, 12:00 AM EDT) -- A French court has made an agreement in principle to extradite the former Bawag PSK chief executive whose alleged mishandling of funds led to billions of euros in losses for the Austrian bank and contributed to Refco Inc.’s collapse.

On Friday, the Aix-en-Provence court ordered for 71-year-old Helmut Elsner, who acted as Bawag’s chief executive from 1995 to 2003, to be turned over to Austrian authorities, as long as a medical evaluation determines he is healthy enough to travel.

Austria has opened an investigation into whether...
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