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JANE BURGERMEISTER REPORT: ‘Austria’s former Finance Minister used 500,000-euro secret cash fund for Hypo share deal’

Austria’s former Finance Minister used 500,000-euro secret cash fund for Hypo share deal

Jane Burgermeister | May 6, 2011 at 1:04 pm | Categories: Uncategorized | URL: http://wp.me/puNtl-1dg

Austria’s former Finance Minister Karl-Heinz Grasser transported huge amounts of cash from Switzerland to Austria in secret before the money was eventually invested in a controversial Hypo Alpe Adria  share deal involving hidden repurchase agreements in 2006, according to media reports.

http://kurier.at/nachrichten/2099577.php

The revelations will deal a fresh blow to the credibility of Grasser, a former far-right Freedom Party politician who went on to become a Finance Minister for the conservative party under Chancellor Wolfgang Schüssel. Grasser is also under investigation for allegations of corruption in connection with the privatisation of state property.

Grasser paid 500,000 euros which he brought into the Austria in cash into a bank account at Meinl bank after hours but did not get a receipt. Read more of this post

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May 7, 2011 - Posted by | Fighting corruption internationally, Internationally significant information, Jane Burgermeister Report

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