Linz prosecutors have dropped an investigation against BAWAG PSK after finding no evidence of wrongdoing.
The announcement was made on Wednesday when prosecutors in the city said that they could not find proof that staff at the bank had tricked the municipal government into a 2007 swap deal.
However a civil case is still being pursued by the regional government in Linz – despite the fact that the lender has vehemently denied any wrongdoing on its part.
“Investigations that were conducted showed no evidence that people linked to BAWAG deliberately misled the city of Linz or contributed to any potential breach of trust,” said the prosecutors who were carrying out a criminal investigation, in a statement released this week.
In their own statement about the dropping of the criminal case, BAWAG applauded the decision and said that the attempt to criminalise employees has failed.