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BUSINESS
June 14, 1996 | Times Staff and Wire Reports
Argentine Bank Cancels Contract With IBM: The country's largest bank, state-owned Banco Nacion, informed International Business Machines Corp. that it is canceling the $249-million contract, the subject of an investigation into a scandal involving allegations of kickbacks. IBM Argentina has been accused of paying bribes to land the contract to modernize Banco Nacion's computer systems. In a brief statement, the bank said it made its decision based on "technical and judicial reports."
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BUSINESS
June 14, 1996 | Times Staff and Wire Reports
Argentine Bank Cancels Contract With IBM: The country's largest bank, state-owned Banco Nacion, informed International Business Machines Corp. that it is canceling the $249-million contract, the subject of an investigation into a scandal involving allegations of kickbacks. IBM Argentina has been accused of paying bribes to land the contract to modernize Banco Nacion's computer systems. In a brief statement, the bank said it made its decision based on "technical and judicial reports."
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BUSINESS
August 26, 1991 | JUANITA DARLING, TIMES STAFF WRITER
The winner of a multibillion-dollar bidding contest for controlling interest in Banco Nacional de Mexico--with assets of $27 billion, the nation's largest bank and one of two with a California subsidiary--was expected to be announced by early today. Two brokerage firms, one associated with 45 prominent family businesses, are vying for the bank, known as Banamex, the seventh of 18 commercial banks to be sold by the government.
BUSINESS
September 3, 1991 | JUANITA DARLING, TIMES STAFF WRITER
The new man in charge at Mexico's largest bank made his money by following the oldest maxim of stock market trading: Buy low, sell high. Over the past 20 years, Roberto Hernandez has anticipated the roller coaster rises and plunges of Mexico's fledgling stock market. In the process, he has built the fortune--and reputation--that allowed him to put together the $3.
BUSINESS
September 3, 1991 | JUANITA DARLING, TIMES STAFF WRITER
The new man in charge at Mexico's largest bank made his money by following the oldest maxim of stock market trading: Buy low, sell high. Over the past 20 years, Roberto Hernandez has anticipated the roller coaster rises and plunges of Mexico's fledgling stock market. In the process, he has built the fortune--and reputation--that allowed him to put together the $3.
BUSINESS
August 20, 1996 | Times Staff and Wire Reports
Argentine Bank Sues IBM Over Contract: Banco Nacion has filed a $173.6-million lawsuit against International Business Machines Corp. over a scandal-plagued contract. The lawsuit, filed late Friday, follows a similar $86-million suit IBM filed in July after Banco Nacion canceled a $249-million contract IBM had won to computerize the bank's 525 branches. A spokesman at IBM's headquarters in Armonk, N.Y., said the company had no comment.
BUSINESS
August 11, 1996 | SEBASTIAN ROTELLA, TIMES STAFF WRITER
The lineup of defendants in Argentina's politically charged IBM scandal resembles the guest list for an exclusive gathering of the financial and governmental elite. The 30 defendants include ousted top executives of IBM Argentina, the entire former board of directors of state-owned Banco de la Nacion, Argentina's largest bank, and a former aide to the nation's president.
NEWS
October 10, 1998 | SEBASTIAN ROTELLA, TIMES STAFF WRITER
Argentina's IBM scandal now has the one thing it lacked: a corpse. The case centers on charges that IBM executives paid high-ranking government officials $21 million in bribes to secure a record $250-million computer contract with state-owned Banco Nacion, Argentina's biggest bank. The past two years have featured the discovery of clandestine deposits in overseas accounts, an extradition demand for U.S.
BUSINESS
August 26, 1991 | JUANITA DARLING, TIMES STAFF WRITER
The winner of a multibillion-dollar bidding contest for controlling interest in Banco Nacional de Mexico--with assets of $27 billion, the nation's largest bank and one of two with a California subsidiary--was expected to be announced by early today. Two brokerage firms, one associated with 45 prominent family businesses, are vying for the bank, known as Banamex, the seventh of 18 commercial banks to be sold by the government.
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