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Senior co-op executives pleaded not guilty to fraud charges in connection with a banking scandal where loans worth millions were given out without due process.
This is the first criminal case about senior management at the Cypriot cooperative banking institution, part of which is currently in the process of a takeover by Hellenic Bank.
Seven individuals and two companies are facing a total of 19 charges relating to conspiracy to commit fraud, obtaining goods under false pretences, unlawful acquisition of property, forgery, circulating fraudulent documents, false accounting, illegal gains, and money laundering.
The case involves nearly €3.6 million worth of loans.
A trial date has been set for November 5 at the Nicosia Criminal Court.
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