Austria’s FMA Takes Control of Medici on Madoff Risk (Update1)
Jan. 2 (Bloomberg) -- The Austrian financial regulator assumed control of Bank Medici AG after the Vienna-based private bank said it had $2.1 billion invested in funds managed by Bernard Madoff. Chief Executive Officer Peter Scheithauer resigned.
The Financial Markets Authority is assigning state supervisor Gerhard Altenberger to the bank to “safeguard the interests of creditors and the company’s assets,” the regulator said in a st
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