Cyprus News Agency

Trending-news
     CNA   Government makes representations to UN over fishing boat detention by Turkish occupation forces     CNA   Cyprus President in New York to address UN General Assembly     CNA   --President says Cyprus achieved remarkable recovery after economic crisis     CNA        CNA   ExxonMobil “happy” to be in Cyprus, as President Anastasiades speaks to London investors     CNA   European Commission to issue recommendations for citizenship schemes by November     CNA   --

Supreme Court overturns banker’s conviction
CNA - Cyprus/NICOSIA 12/09/2018 18:58


The Supreme Court overturned on Wednesday a conviction handed down by the Nicosia Assize Court against former Bank of Cyprus CEO Andreas Eliades and the Bank of Cyprus.

In a majority ruling (two to one), the Supreme Court, acting in its capacity as a criminal appellate court arrived to the conclusion that it was evident from the circumstances that the defendant’s actions to intentionally lie when asked during the Bank’s AGM about the Bank’s capital shortfall was not an action which formed part of an effort to manipulate the market but rather “of an effort, during that time, by the appellant to avoid the pressure of that particular circumstance, to have to deal with the angry shareholders and their persistent questions.”

The majority ruling by Supreme Court President Myron Nicolatos and Supreme Court Judge Tefkros Economou, was read out in Court by the latter

(CNA)

*The full text of the news item is available in the paid version of the CNA web service. Subscription Form

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
   

Closing:21/09/2018
Volume:114.540,86
CSE:72,110  -0,920%
FTSE/CySE:43,130  -0,960%
Nicosia36°C
Larnaca32°C