AIB’s Rusnak put false trades into SunGard’s Devon system
DUBLIN -- Allied Irish Banks’ (AIB’s) John Rusnak, the trader accused of concealing nearly $700 million in foreign exchange losses over five years, entered false trades into software provider SunGard’s Devon System. Devon was the system used to process prime-brokerage accounts at Allfirst Bank, AIB’s US subsidiary, according to an AIB-backed inquiry.
The inquiry, conducted by banking expert Eugene Ludwig and law firm Wachtell, Lipton, Rosen & Katz (see related story), did not fault the Devon
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