Word: finanzanstalt
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...depositors the higher interest rates, Kuhrmeier had to find riskier investments than the Eurodollar market. He chose a Liechtenstein-based holding company called Texon Finanzanstalt, which he had founded in 1961. Over the years Kuhrmeier funneled $868 million of Crédit Suisse's Chiasso deposits to Texon. The company then bought stakes in more than 150 Italian companies dealing in, among other things, wine, plastics and vacation resorts...
...salable stocks, they invested the funds in ventures that they set up especially for that purpose. A door connected their offices with those of lawyers who were involved in some of the transactions. From Chiasso, an estimated $880 million was funneled to a Liechtenstein-based holding company called Texon-Finanzanstalt. In turn, that company invested the money in three Italian undertakings: a winemaker, a resort near Venice and a plastics manufacturer...
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