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. Last Updated: 07/27/2016

Czech Bank Protected

PRAGUE () -- Officials moved to protect the Czech Republic's largest private bank, and a prominent financier reportedly fled the country for safety reasons Tuesday as turbulence shook the finance sector.

The decision by the Czech National Bank to appoint a temporary administrator for Agrobanka Praha, the country's fifth-largest bank, came just days after six people were charged with embezzlement and damaging creditors in the crash of another bank, Kreditni Banka Plzen.

Agrobanka is the 12th bank to run into troubles here in the past four years.