September 3, 1991 |
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.
August 20, 1996 |
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.
August 11, 1996 |
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.
October 10, 1998 |
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.