News Local Former Laiki officials fined for giving misleading information

Former Laiki officials fined for giving misleading information

The Nicosia Criminal Court on Friday fined four former Laiki officials who were convicted on October 12  for market manipulation and giving misleading information.

The charges relate to failure to disclose the impairment– estimated at €330m — on the goodwill of the bank’s operations in Greece and to include it in the nine month results of 2011.

Efthymios Bouloutas, then Laiki CEO, was fined €150,00 while the other three — then deputy CEO Panayiotis Kounnis, then non-executive vice president Neoclis Lyssandrou and then non-executive board member Markos Foros were each fined €12,000.

The fines relate only to the second charge of misleading information. No sentence was passed for the first charge of market manipulation, the Cyprus News Agency said.

In announcing the sentence, the court said that at the time Bouloutas held a more important position than the others. It added that none had accrued personal gain from the offence.

All had pleaded not guilty.

Read more

https://in-cyprus.com/news/local/laiki-four-found-guilty-of-market-manipulation/

Top Stories

WHO pauses trial of hydroxychloroquine in COVID-19 patients due to safety concerns

The World Health Organization has suspended testing the malaria drug hydroxychloroquine in COVID-19 patients due to safety concerns, WHO Director General Tedros Adhanom Ghebreyesus...

UK to reopen thousands of shops in easing of coronavirus lockdown

Britain will reopen thousands of high street shops, department stores and shopping centres next month, Prime Minister Boris Johnson said on Monday, setting out...

Repeat positive cases ‘released’ three weeks from first diagnosis

The Health Ministry issued instructions on Friday on the release / ending of isolation for patients who tested positive to Covid-19 but are not...

Two new Covid cases in education and repatriations

Two new coronavirus cases were reported today by the health ministry, a drop from yesterday's eight, out of a total of 2128 tests, raising...

Minister: Back to school for 769 pupils with disabilities

  More than 760 children with disabilities who were told they could not go back to school when primary and lower secondary schools reopened last...

Taste

Traditional salads that will blow your mind away

This traditional salads will make you actually love salads! Cyprus may be famous for souvla and kleftiko but if you try the traditional salads with...

Honey Balls

As you stroll down Onasagorou street in the old city of Nicosia and suddenly feel the need for something sweet, follow the smell of...

Octopus with Oregano

Ingredients: (Serves 4) 1 kg octopus ½ tsp dry oregano Pepper 3 tbsp olive oil 2 tbsp vinegar or lemon juice Preparation: Clean the octopus thoroughly under cold running water. Place the octopus...

Fish meatballs

In a bowl, mix the finely chopped onion and parsley. Boil the fish, cut into small pieces and add to the bowl. Add salt...