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Allied Irish considers 'fraud ' report

12 April 2012

THE board of Allied Irish Banks was meeting today to discuss the report by investigator Eugene Ludwig into its £485m US roguet rading scandal.

The alleged five-year fraud by Baltimore currency dealer John Rusnak was discovered last month. Chief executive Michael Buckley appointed US heavy-hitter Ludwig to unearth how it was committed and how Rusnak escaped detection for so long.

Meetings may continue into Wednesday as AIB's board wrestles with how best to restore confidence. Some executives are expected to go.

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