Austrians Convicted In Refco Scandal May Get Retrials

Law360, New York (October 19, 2010, 4:00 PM EDT) -- Austria's top prosecutor has reportedly recommended retrials for nine people whose alleged mishandling of approximately $2 billion at BAWAG PSK bank contributed to the demise of commodities trading firm Refco Inc. in a 2005 securities scandal.

After determining that there had been irregularities in the trials, the Austrian procurator general recommended that some trials should be repeated and some verdicts lifted, according to a report Tuesday by Austria Presse Agentur.

In particular, the procurator said that a “null-and-void” objection to the verdict handed to former BAWAG...
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