The Kaupthing action group (KSFIOMDAG) has called for a public inquiry into the management of Kaupthing Singer & Friedlander Isle of Man (KSFIOM) following the leak of a Kaupthing loan book which suggests unusual lending practices could have contributed to the bank's collapse.
KSFIOMDAG believes skeletons tumbling out of the KSF closet in the form of the leaked document on the Wikilinks website, bolsters its call for an independent public inquiry into the management and regulation of the bank, which collapsed last October trapping thousands of depositors' savings. The confidential 210 page file, which was produced just two weeks before the bank's demise, reveals Kaupthing lent billions of pounds to companies linked to a key director and top shareholders. The highest loans, totalling over €6.4bn were spread between companies connected to just six clients, fo...
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