Rusnak ‘to plead guilty’ in fraud

FORMER currency trader John Rusnak will plead guilty to criminal charges in the €750 million trading scandal that rocked Allied Irish Banks this year, sources close to the investigation said last night.

Rusnak, who worked for AIB's Baltimore-based US subsidiary, Allfirst Financial Inc, is due to appear before a US district judge today as part of a plea agreement with federal prosecutors that marks the latest chapter in one of the biggest scandals in recent banking history.

AIB and Rusnak's attorney both declined to comment.