The New Shah of mutual funds, banking skeletons, IPO games, auto bumps, vaastu fail and morePage Visited: 14
A well-known private bank, whose former CEO is being investigated for financial sins, is trying hard to resurrect its tarnished image. The new management has roped in a leading public relations company to stop bad press at any cost. The PR firm has been asked to “request” journalists to ensure only “positive” questions in exchange for “exclusive interviews”. Will that help? As the probe deepens, we hear that more skeletons will tumble out of the proverbial cupboard. This includes a hefty $50,00,00 (way above industry standards) upfront fee paid to a foreign banker who was close to the previous management for raising capital. What’s the big deal, you might wonder. The capital never came. We can only wish the PR firm good luck.