A bank – takes money into custody that – a depositor holds illegally or as a politically persecuted person, – but the bank certifies to the authorities that the depositor is destitute and has no deposits with it. – If the account holder then later wants to access his money, the bank denies the existence of deposits with it, referring to the declaration made. – The term is derived from the Athenian banker Pasion (around 390 BC). In this way, he embezzled the money of the minister Sopaios, who was temporarily out of favor with the Crimean king Satyros I (d. 389 BC). The famous Greek orator Isocrates (436-338 B.C.) represented the plaintiff in the then much-publicized trial for the return of the money. The Black Sea region was the most important supplier of grain to Athens, and the trial was therefore of very great importance for the undisturbed exchange of trade. – See Address Spoofing, stock analysis, custody account misappropriation, frontrunning, insider transaction, price manipulation, nominee, Pairoff, scalping, sham transactions, straw man, fiduciary contract, asset manager.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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