Fifteen to stand trial for structured bond scandal
The Appeals Justices Council ruled that 15 people should stand trial for the 280-million-euro structured bond sold to Greek social insurance funds at inflated prices
Bonds - nothing but hot air for Greek social insurance funds.
The Appeals Justices Council ruled that 15 people should stand trial for the 280-million-euro structured bond sold to Greek social insurance funds at inflated prices, last week.
Those indicted include the representatives of the Greek brokerage Akropolis, representatives of North Asset Management and JP Morgan and the heads of the funds involved, as well as the labour ministry general secretary of that time. They are Yiorgos Apostolidis, Sofoklis Priniotakis, Theodoros Priniotakis, Yiorgos Papapmarkakis, Agapios Simeoforidis, Panagiota Karadima, Panagiotis Demestihas, Gerassimos Konidaris, Konstantinos Christidis, Haralambos Adamopoulos, Avraam Savvidis, Nikos Bougas, Evgenios Papadopoulos, Dimitris Liatis and Angelos Liatis.
The charges against them are: acting in concert to commit fraud; being a direct accomplice to fraud; breach of faith, morally instigating breach of faith; legalising income from illegal activity; forming a criminal organisation; harbouring a criminal that had embezzled the state sector; tax evasion; and being a direct accomplice in tax evasion. The three Akropolis executives Yiorgos Apostolidis, Theodoros Priniotakis and Sofoklis Priniotakis are currently in jail pending trial.
Source: Athens News
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