Punjab National Bank, a state-owned bank in India ~lost $1.4B, without knowing about it for more than a year. ~lost is somehwhat vague because all it involved

Punjab National Bank, a state-owned bank in India ~lost $1.4B, without knowing about it for more than a year. ~lost is somehwhat vague because all it involved was a Letter of Undertaking that was a "promise" by the bank to return that money. They did honor it, losing billions of dollars. [0]: https://en.wikipedia.org/wiki/Punjab_National_Bank_Scam https://en.wikipedia.org/wiki/Punjab_National_Bank_Scam [1]: https://economictimes.indiatimes.com/news/international/obama-says-new-budget-rules-will-rein-in-spending/an-evergreen-lou-story-how-shetty-co-pulled-the-pnb-con/articleshow/63163744.cms https://economictimes.indiatimes.com/news/international/obam...