The Bond issue that saw the new Chief of the Bank of Banks facing a serious ‘insider-trading’ allegation has now become a sensational topic both in the banking sector and political circles in the country. In the wake of the ho ha over the issue, a three-member committee was appointed to probe the matter, but the employees of the main Bank quite openly mention the names of the bigwigs behind the shady transaction, they say.
These employees say that a certain heavyweight who would not normally directly involve himself in the auction, presided over it raising the eye brows of all and sundry. And he was the kingpin behind the operation that gave a windfall profit to the son in law’s company.
When the deal unexpectedly blew up in the face, the kingpin had advised the son-in-law to transfer the ownership of the company to his father.
The bank employees who were happy to see the back of the former Chief only a few weeks ago, now regretfully say that the remedy is worse than the disease.