Vienna poised to take control of Bank Medici

The Austrian government is preparing to take control of Bank Medici, a Vienna-based private bank, which has revealed losses on funds that invested with Bernard Madoff, the disgraced financier.

Earlier this month, Peter Scheithauer, the chief executive of Bank Medici, confirmed that clients of the bank, which had $3.6 billion under management at the end of September, had invested in two funds run by Madoff.

Scheithauer said the collapse of the Madoff venture would not affect Bank Medici, as only

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: