The banking supervision consists not only of the FMA, but also includes the National Bank, zinc sees a “tandem” at work that “has seriously failed, I dare to say that”. And one is obviously not alone in this, as already introduced or announced further official liability suits by lawyers would prove. In addition, the change to the Financial Market Authority Act was only made in 2008 – but Commerzialbank board member Martin Pucher admitted to investigators that the bank was ready for bankruptcy in 2000.
“Why haven’t the FMA and the National Bank seen the trickery in the bank?”, Zink sees both supervisory bodies responsible. The regional subsidiaries Energie Burgenland (5 million euros) and the Burgenland regional management (1.4 million euros) had money at the Commerzialbank and are therefore among the victims, from which the state’s planned public liability suit is derived.
The argument that bank founder Martin Pucher was already at work with criminal energy long before 2008 would only be relevant if Energie Burgenland had paid in the five million euros in 2005 (before the new law came into force) and there have been no account movements since then. “The last assessment is decisive,” it says from the financial procurator.
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