Sometimes this makes you wonder how much these people have in their accounts if they can’t miss 5 Million.

But such behaviour is becoming more widespread.

Ian.

If new IceNews system is to be upgraded I look forward to it so I can locate post by searching based on the user that did post and not rely on this in complete Google searching.

Understood, but you’re not busy now. Feel free to make your case. Here you go:

http://www.icenews.is/index.php/2009/10/21/kaupthing-loses-claim-against-british-government/

For ” quiet ” read busy with in real life stuff.

But of course you know that the detailed transcripts of case support what I have been saying here on boards about Kautphing case for over a year.

As I said Brumley, both situation show a failure of internal bank controls. This kind thing happens unfortunately at all larger banks and is more common than might first expect — as subjct of article says:

“How did bank manager who stole £21m [from RBS ] get away with it so long?”

Read more: http://www.dailymail.co.uk/news/article-392894/How-did-bank-manager-stole-21m-away-long.html#ixzz0Y0yPGpNp

“The actual loss ? in real cash paid out ? is still a staggering £10million [to RBS], and the bank estimates that, as the manipulation of funds was so complex and intricate, as much as £4 million may never be recouped.
..
Many recipients were businesses which, although genuine, might not have qualified for the kind of handouts Mackenzie was rubber-stamping.
Why did Mackenzie bend the rules for them when he didn’t have to? Every lie, every bogus transaction, increased the likelihood of his being caught, but, at the same time, his fraudulent activities earned him performance-related bonuses and brought him the ‘Business Manager of the Year’ accolade for 2002, 2003 and 2004.

He began to enjoy his new status; he had joined the bank as a 19-year-old, now, finally, he was ‘somebody’ ? as long as he didn’t get caught.

And so Mackenzie devised an ingenious system of manipulating the bank loan process by creating false accounts in names similar to those of genuine customers. For example, the fictitious John T. Steal instead of the real John T. Steale.

When customers like ‘Mr Steal’ ‘applied’ for a loan, Mackenzie would omit the business lending code from the paperwork, ensuring applications did not go to a separate department, whose job it was to approve such loans. Mackenzie regularly used 70 such accounts and, at one point, 1,200 were in existence.
..
The fraud started in 1999, the year after Mackenzie was married to Margaret Colthard, who worked as a personal credit adviser at the same branch. Not once did Mackenzie let his guard slip in front of her ? she never suspected. Donald Mackenzie’s extraordinary double life continued for five years.”

FALLING OUT OF A PERFECT DREAMMM…. COMING OUT OF THE BLUEEEEE…

AS I SAID IN MANY OF MY “HILARIOUS” AND “CRAZY” COMMENTS PRODUCT OF MY MIND JUST VOMITING THINGS: ICELANDIC BANKS ARE LIKE THE CAVE OF ALI-BABA AND THE 40 ROBBERS….

IS IT TRUE? IS IT OVERRRR??

SO TELL ME ABOUT THE RUMORS, ARE THEY ONLY RUMORS?
ARE THEY ONLY LIES?

FALLING OUT OF A PERFECT DREAM…COMING OUT OF THE BLUEEEEE

IS IT TRUE?
IS IT OVER?