Brogue trader subpoena 'unenforceable'

Rogue trader John Rusnak will not have to give evidence at the looming New York trial in which AIB is suing Citibank for $872m, a judge has ruled.

The Irish Independent reports that it has also emerged that Rusnak, who lives in Baltimore, Maryland, was served by Citibank with his subpoena to testify while visiting New York's luxurious Waldorf Astoria hotel to celebrate his wedding anniversary.

However, the rogue trader had insisted he would exercise his rights under the US Fifth Amendment, allowing him to avoid giving testimony where he could incriminate himself. Mr Rusnak served almost seven years in prison for the 2002 fraud at then AIB subsidiary Allfirst.

Rusnak has also told a New York court that he would be unable to afford legal counsel in any event. He now runs a dry cleaning business in Baltimore.

To access the complete Irish Independent article hit the link below:

Subpoena 'unenforceable' for rogue trader Rusnak

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