Two board members at Germany's state-owned KfW Bank for Reconstruction have been suspended over a mistake that lead to million of euros being transferred to Lehmann Brothers, just hours before it filed for bankruptcy.
German Economics Minister Michael Glos said a KfW manager had also been sacked. Earlier KfW admitted that the total loss to the bank amounted to 536 million euros. KfW said Monday's transfer of more than 350 million euros to Lehman Brothers was part of a swap arrangement based on long-term contractural obligations.
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