Austrian bank Bawag has agreed to pay $675m to settle a case
brought by Securites and Exchange Commission (SEC), accusing
the bank of aiding and abetting Refco's chief executive Phil
Bennett's violations of antifraud and reporting laws.
The figure, double the original loan made by the bank to
Bennett, was to be distributed amongst Refco's creditors,
including class action claimants and equity partner Thomas H
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