Former IPB bank managers face further charges over huge losses

Six former managers of the collapsed bank IPB have been charged with being responsible for losses of nine billion crowns, the newspaper Mlada fronta Dnes reported on Saturday. The six, who were already facing similar charges, face up to eight years in prison if found guilty. IPB was put under forced administration in the summer of 2000 and was bought by CSOB bank three days later. The state took on IPB's losses at a cost of around 100 billion crowns.