IN a previous incarnation, I worked briefly with AIB’s managing director in Ireland, Donal Forde. He’s the man who has been taking the public flak over the latest AIB fiasco, the accidental ripping-off of their foreign exchange customers.

Allied Irish Bank is to sue two other banks which it believes were involved in the fraud operation that led to their US bank loosing more than half a billion dollars last year.

AIB promised to meet all its pension obligations to staff despite the existence of a huge deficit of over 700m in its pension funds.

The country’s biggest bank, AIB, last year built up one the largest profits recorded by an Irish company.

ROGUE AIB currency trader John Rusnak began a seven-and-a-half year prison sentence yesterday for hiding over €648.8 million in losses at Ireland’s largest bank.

Rogue trader John Rusnak, whose $427m losses almost bankrupted an Irish-owned US bank, was today jailed for seven-and-a-half years.

IRATE Allied Irish Banks shareholders in the US, furious at the €658 million rogue trading loss by subsidiary Allfirst, have been told to look to the Irish courts for compensation.

AIB Bank, rocked by a major fraud case this year, said yesterday it had appointed Shom Bhattacharya as chief risk officer in a move designed to prevent a repeat of the scandal.

IT has certainly been an annus horribilis so far for AIB and Bank of Ireland and the question for the dominant forces in Irish banking is where now?

A former currency trader accused of hiding €700m in losses at the Allfirst bank in the US today pleaded guilty to one of the largest bank fraud cases in US history.

John Rusnak, the former foreign currency trader at AIB's Allfirst branch in the United States, is expected to plead guilty today to 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.

AIB has confirmed it is in discussions with American bank M&T for the sale of its US subsidiary Allfirst and the merger is expected to be announced later today.

AIB is reported to be near agreement to sell its troubled Allfirst subsidiary in the US in a deal worth $3bn (€3.06bn).

The president and chief executive of Allfirst, the US division of Allied Irish Banks that was rocked by a €700m currency trading scandal, has resigned

John Rusnak - the trader charged with fraudulently hiding his €520m in losses - denies he was protecting his six figure income.

A rogue currency trader accused of hiding €800m in trading losses at AIB-owned Allfirst Financial was today indicted by a US federal grand jury.

The trader linked to more than $700m in losses at an Allied Irish Bank subsidiary in the US could be indicted by a federal grand jury today, according to the Wall Street Journal.

The Allied Irish Banks' shareholder Niall Murphy was thrown out of today's AGM after he confronted management about the £486m (€762.4m) fraud at its US subsidiary.

Allied Irish Banks says it's shaking off the impact of an alleged €765m fraud at its US subsidiary.

Allied Irish Banks PLC has reached an agreement with US, Irish and Maryland regulators to conduct reforms after a dealer at its Baltimore-based subsidiary was accused of covering up a massive five-year fraud.

The Allied Irish Bank has spent €900m in the past two months to save its US subsidiary, Allfirst, according to reports this morning.

Two foreign exchange traders from American giant Citibank were suspended today in the wake of the report into the €486m loss suffered by Allied Irish Bank's US subsidiary.

Officials at AIB bank were today being presented with a report into the €746m fraud at its American subsidiary Allfirst.

AIB will he handed an expert’s report on a €760m suspected fraud at its main American subsidiary next week.

The €760m loss blamed by AIB on a rogue trader may have been due to lax controls at its American subsidiary, it was claimed today.

The Allied Irish Bank is facing legal action in the United States for allegedly failing to reflect the losses incurred by trader John Rusnak in its financial reports since 1999.

A shareholder lawsuit launched in New York accuses Allfirst Bank and its Irish parent company of failing to police a trader who allegedly squandered almost $500m (€570m).

US Federal Prosecutors are considering pressing charges against rogue trader John Rusnak over an alleged fraud at AIB, which led to the loss of €690m.

Colleagues of rogue trader John Rusnak warned in a memo written more than two years ago that he was gambling too much of his bank’s money, it emerged today.

Shares in AIB bank - whose value slumped earlier this month following confirmation of an €800m alleged fraud loss at an American subsidiary - soared in price on the stock exchange today following renewed takeover speculation.

Allied Irish Bank bosses say they won't resign following the financial scandal at the bank's US subsidiary.

AIB chief executive Michael Buckley has said the American-led investigation into the Maryland losses of €866m euro by a rogue trader had made ‘‘a good bit of progress’’.

Allied Irish Bank, Ireland’s biggest bank, today confirmed the consequences on its results of the suspected $750m (€866m) fraud loss at one of its American subsidiaries.

There is fresh evidence that the man at the centre of the massive AIB fraud may not have been acting alone.

Allied Irish Banks PLC officials say they will centralise their management and treasury activities throughout the company.

Rogue trader John Rusnak has told the FBI he lost €877m from Allied Irish Banks’ American subsidiary as he tried to make up for his losses.

John Rusnak, the trader at the centre of the scandal over the $750m (€866m) missing from a subsidiary of Allied Irish Bank, was today in hiding, away from the glare of the world’s media.

Directors at Ireland’s biggest bank, AIB, were meeting in special session today to assess worldwide reaction to yesterday’s shock disclosure of a $750m (€866m) fraud loss at an American subsidiary.

Parallels between John Rusnak’s alleged €866m fraud and the collapse of Barings Bank expose ‘‘incompetence and negligence’’ in the banking world, rogue trader Nick Leeson claimed today.

The US banker at the centre of an alleged €866m fraud has met voluntarily with the FBI and federal prosecutors, his lawyer said.

Allied Irish Banks has seen €1.6bn wiped off its shares since it revealed that one of its US subsidiaries has been the victim of a massive fraud.

AIB Bank has said the amount of money believed to have gone missing from its US subsidiary, Allfirst, is less than one year's profit.