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Investigation Report Incriminates Managers of Bank of Cyprus
Mass purchase of Greek state bonds and removing of data.
Investigation Report Incriminates Managers of Bank of Cyprus / Picture: © Bank of Cyprus
According to the investigation report by the consultancy firm Alvarez & Marsal, managers of the Bank of Cyprus had sold but then immediately purchased Greek state bonds on a great scale on December 10, 2009. At that point the outlines of the financial crisis in Greece were already visible. Yet the managers in Nicosia decided to purchase them. This is how the story of the banking…
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