Allied Irish Banks ( AIB ) , now owned by the government of Ireland , has attacked Citibank 's efforts to have AIB 's $ 500 m case against it dismissed by a New York judge . AIB has claimed that Citibank aided a fraud committed by rogue trader John Rusnak , who caused $ 500 m if losses to investors at former AIB subsidiary , Allfirst . It has argued that the judge has so far " overlooked undisputed facts and controlling factors that compel dismissal of this action . " However , a judge said recently that she believed there is " credible " evidence that Citibank helped AIB . The case continues .
Allied Irish Banks (AIB), now owned by the government of Ireland, has attacked Citibank's efforts to have AIB's $500m case against it dismissed by a New York judge. AIB has claimed that Citibank aided a fraud conducted by rogue trader John Rusnak, who caused $691m if losses to occur at former AIB subsidiary, Allfirst. Citibank has argued that the court has so far "overlooked undisputed facts and controlling law that compel dismissal of this action." However, a judge said recently that she believed there is "credible" evidence that Citibank misled AIB. The case continues.