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The Ausserrhoder Kantonalbank collapsed in the late 1980s due to scandals and poor decisions, leading to its sale to UBS in 1996. Risky investments, including a failed salmon farm and a controversial brothel acquisition, exacerbated its financial troubles, while politicians failed to act despite warning signs. The bank's archive has since been a contentious issue, with a partial handover to state archives occurring after a decade of negotiations, but full access remains restricted for up to 60 years due to client confidentiality.
Marianne Kleiner
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
collapse of ausserrhoder kantonalbank scandals and risky investments revealed
08:11 06.11.2024
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