Major scandal in Cyprus ‘the relationship’ between the CEO of the CBC and MIG

Major scandal in Cyprus ‘the relationship’ between the CEO of the CBC and MIG


Review Hari Stefanatos

A major topic of discussion in public opinion is the publication of the newspaper “Kathimerini” Cyprus, which “voices” the suspected relationship of the family of the Governor of the Central Bank of Cyprus (CBC), Chrystallia Georghadji with Andreas Vgenopoulos of the Marfin Investment Group.

What also raises even more serious questions among the public is the fact that Georghadji, the government, the Attorney General and the political parties, except from the party of Ecologists, have not reacted to this publication.

Valid government source, who was asked by AMNA, merely stated that “we do not want to comment on the report yet”.

The Green Party, in its announced, expresses its concern about the “silence” that exists on the part of the government, but by Mr. Georghadji as well.

“It is inconceivable for this news to circulate and discredit an institution with a critical role and responsibility in matters of the economy and create no response from the competent organs of the State. Citizens rightly wonder and ask for explanations”, says the announcement:

The newspaper “Kathimerini”, in the story of publishing director Andrew Paraschou says that the estranged husband of Ms. Georghadji, who maintains a law office in Limassol, represents Andreas Vgenopoulos in his legal battle against the former People’s Bank of Cyprus. At the law office of the estranged husband of Mr. Georghadji also works their daughter.

The paper raises an ethics issue for Georghadji as the CBC plays an important role in the investgations on economic crime, in regard to the collapse of the economy in early 2013 and wants answers from both the executive and the judicial service.

It should be noted that Georghadji refrained from answering when she was presented with the following question: “The fact that the Law Firm of Mr. Andreas Georghadjis and your daughter, Marianna Georghadji, represent Mr. Andreas Vgenopoulos and MIG in court, don’t you think that it creates an ethics issue and an issue of conflict of interests, since you have taken up the post of Governor of the Central Bank of Cyprus”?

Furthermore, the Attorney General, Kostas Klerides said that the Legal Service has begun to collect important data from financial institutions in recent days, after his warning to banks for legal consequences if they continued to procrastinate the request of the Agency to provide information within the framework of the financial crime investigations.

The Attorney General said to StockWatch website, which deals with economy issues, that last week the investigators of the economic crime division began collecting certain key figures from the banks. These figures, he said, we had asked for some time now, but the bank would give the excuse that due to workload, it was not easy to concentrate them.

“It’s a matter of time for the legal department to make announcements as the investigative work has began to pay off”, stated the Attorney General, who once again stressed the need “to avoid leaks, which at the end of the day will complicate both inquisitorial work and the work of justice”.

He also said that investigators, investigating financial crime, went last week to Athens and returned with important information. The same investigators, he said, are going back to Athens in a few days for further investigations and collection of additional data.

(Source: Kathimerini, AMNA)