Business Services Industry
London end of NAB scam cops plea.
Australasian Business Intelligence, February, 2006
Byline: Marc Moncrief
Feb 07, 2006 (The Sydney Morning Herald - ABIX via COMTEX) -- Former National Australia Bank (NAB) employee Gianni Gray has been convicted of fraud and will be sentenced on 23 March 2006. He is the second person to be found guilty over the foreign currency trading scandal that engulfed the Australian bank in 2004, in which losses of $A360m were accumulated. The
company is now rebuilding its image, and in mid-February 2006 is about to unveil a new logo. Gray's punishment is likely to be below that for Luke Duffy, who was based in Melbourne and received a jail term of 29 months. Gray ran the London operations of the NAB foreign exchange trading desk...
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