AIB Investigation – Action is needed to end scandals

Scandal-riddled AIB was yesterday evening mopping up the fall-out from another hugely embarrassing revelation which, in terms of culpability, cannot be explained away as an “administration cock-up.”

In this scandal, the latest in a series of them, the finger has been pointed at former and current senior executives in relation to irregularities and their connection with offshore accounts.

According to a statement from the bank, five former senior executives had offshore accounts in an investment company managed by the bank’s offshore wing, AIB Investment Managers. In the case of three current senior executives, the bank found nine transactions that it says involved “unacceptable” practices.