Beer firm’s name used as front for share deals

A GERMAN beer company’s name was used as a front for the extraordinary handling of millions of euro belonging to AIB shareholders which was routed through tax havens in South Pacific and Caribbean islands, it was claimed yesterday.

Customers were not aware when buying shares in the bank, through its subsidiary stockbrokers, Goodbody, the shares were being put in the name of a company in the island of Nevis — marked as a “black spot” with which Irish financial institutions were not supposed to trade.

It is alleged that Goodbody stockbrokers initially passed the money through what was purported to be the financial arm of the German beer brewing family Furstenberg.