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  1. Wealth
April 6, 2009

AT: Banker Meinl out on $100m bail

By Spear's

Austrian public prosecutors approved the release yesterday of Julius Meinl in return for surrender of his passport and record bail of -100m because of the risk he might try to abscond.

From the Austrian Times:

Austrian public prosecutors approved the release yesterday of Julius Meinl in return for surrender of his passport and record bail of €100m because of the risk he might try to abscond.

Vienna public-prosecution office spokesman Gerhard Jarosch said today (Fri): “Julius Meinl is a British citizen, and it was feared, on the basis of previous investigations and new evidence, that he might try to flee from justice.”

The move followed Meinl’s detention on Wednesday night after questioning by prosecutors investigating allegations of fraud at Meinl European Land (MEL), a quoted property group formerly managed by Meinl Bank, which is closely held by the Meinl family.

To read the full story, visit austriantimes.at

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