The Austrian Bank Job

Published: October 23rd, 2019

Banner: AP Photo/Ronald Zak

When it came to stripping assets from their financial institutions, Eastern European bankers found the infrastructure they needed in a century-old Austrian bank.

Meinl Bank now faces permanent loss of its license and the dealings they facilitated are being investigated in at least four countries.

It’s an ignoble end for a venerable institution - and one that leaves taxpayers in Ukraine, Latvia and Lithuania on the hook. Some blame Austrian authorities for being too slow to act.

01

Stories

The Vienna Bank Job

A storied bank helped Eastern European bankers loot their own institutions.

Banker On The Run

When Lithuania’s AB Bankas Snoras imploded in 2011, its main shareholders, Vladimir Antonov and Raimondas...

02

The Meinl Legacy

From humble roots in a Vienna grocery store nearly 160 years ago, Austria's Meinl family has operated successful food stores, coffee shops and financial service businesses. Here's a look at how the Meinl empire and its iconic Meinl Bank have changed over five generations.

CREDIT: profil and Laura Mallene (OCCRP)