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The Nicosia Court ruled that the four defendants, former chief executive officer of Laiki Group Efthimios Bouloutas, deputy managing director Panagiotis Kounis, non-executive vice chairman Neoklis Lysandrou and the non-executive member of the board Markos Foros are guilty on the charges of market manipulation and for providing false or misleading information.
The collapse of Laiki Bank was one of the main causes of the recent financial crisis in Cyprus.
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