Article Tools

Investigation Report Incriminates Managers of Bank of Cyprus

Published: April 5, 2013; 20:07 · (Vindobona)

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…

This article includes a total of 325 words.

or Log In