Argentine Bank Cancels Contract With IBM: The country’s largest bank, state-owned Banco Nacion, informed International Business Machines Corp. that it is canceling the $249-million contract, the subject of an investigation into a scandal involving allegations of kickbacks. IBM Argentina has been accused of paying bribes to land the contract to modernize Banco Nacion’s computer systems. In a brief statement, the bank said it made its decision based on “technical and judicial reports.” An IBM Argentina spokesman confirmed the company had been informed of the bank’s decision, but he declined to give details. Federal Judge Adolfo Bagnasco says he plans to travel to the U.S. in July to question two IBM executives who supervised the execution of the contract.
Times Staff and Wire Reports