Rusnak jailed for seven years

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.

The affair, one of the biggest banking scandals in history, came to light last February, but it has taken until now for Rusnak to be put behind bars.

Rusnak, 38, whose currency portfolio had been regarded as a solid performer at AIB’s US subsidiary Allfirst Financial Inc until last February, was also barred for life from working for any federally insured banking institution.