Law360, New York (May 22, 2006, 12:00 AM EDT) -- Austrian lender Bawag PSK Group may pay as much as $600 million to settle allegations made by authorities in the United States considering criminal indictments against the bank for its alleged involvement in the collapse of futures broker Refco Inc.
Bawag confirmed that talks between the bank, the U.S. Department of Justice and the U.S. Securities and Exchange Commission have been ongoing for several weeks, but did not return phone calls for this article.
Bawag hopes that a settlement will defer or postpone criminal indictment of...
Bawag Could Pay $600M To U.S. Authorities
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