Completion of the criminal investigation in Greece for Laiki Bank- Andreas Vgenopoulos holds a press coference on Thursday, February 25 in Athens at 13:30
The competent Public Prosecutor of Athens’ Court of Appeals published her decision No: 1/22-2-2016, terminating the Preliminary Inquiry conducted for the past almost 3 years by various Public Prosecutors on allegations of possible criminal offenses involving Laiki Bank and its management for the period 2006-2011. According to the decision, no evidence appeared indicating that criminal offenses have been committed, hence the case was dismissed.
The matters under investigation cover almost all of the Bank’s activities during that period and include, among others, all large loan exposures, the purchase and holding of Greek Government Bonds as well as the issuance of Capital Securities. With regard to all the above matters, the competent Public Prosecutor ruled that there is no evidence indicating possible criminal offenses.
It is noted that the Public Prosecutor has taken into consideration a large number of special Reports issued by the Bank of Greece, competently ordered for the examination of specific issues, as well as a Report by a Special Expert, appointed by a Public Prosecutor’s order to opine on all the financings under examination and other relevant matters requested. Finally, the Public Prosecutor also inspected over 3,000 documents that were submitted electronically, in the context of the Cypriot Authorities’ judicial assistance, where there is no reference to the accusations which for years have been leaking in Cyprus as alleged criminal offenses. On the contrary, these documents included written information on bank account openings of the alleged suspects, concluded with no accusable findings, while this has been diligently concealed from both the Cypriot and the Greek public opinion.
Worth noting that in the Cypriot Authorities’ research material that was sent to the Greek Justice there was neither claim nor evidence of loans granted without sufficient collateral, at the time they were granted, whereas the relevant Report by the Bank of Greece, which was ordered competently, demonstrates that all granted loans were, at the time of their disbursement, over-collateralised.
The plot which had been set up in Cyprus has now collapsed and those truly responsible for the failure of Laiki Bank, i.e. the authorities and the representatives of the Republic of Cyprus, will emerge from the decision of the International Arbitration Tribunal, where, beyond today’s moral justification, financial compensation will be awarded to MIG and the other Greek investors for their investment in Laiki Bank.
