John Rusnak was a former currency trader at Allfirst bank, then part of AIB Group, in Baltimore, MD, United States. On January 17, 2003 he was sentenced to 7 1/2 years in prison for hiding US$691 million in losses at the bank, after bad bets snowballed in one of the largest ever cases of bank fraud.
Rusnak could have faced up to 30 years in prison. The 7 1/2 year sentence was part of a plea bargain with US prosecutors. Upon his release, he must start paying US$1,000 a month for the five years of his probation.
Rusnak will remain on the hook for the full $691 million