Former Cyprus Cooperative Bank boss under criminal investigation

Attorney General Costas Clerides launched a criminal investigation against Nicolas Hatzigiannis, the former General Director of the now defunct Cyprus Cooperative Bank. Other senior executives are also under criminal investigation.

The investigation begun following a written complaint by Finance Commissioner Pavlos Ioannou, according to which Cooperative executives have repeatedly refused to provide documents and data that have been requested for loans regarding Cypriot internally displaced persons.

Speaking at the Houses of Representatives Attorney General Costas Clerides today confirmed the story.

Mr Clerides also revealed that there are three important cases pending. The first concerns the large size of loans handed out by the Cooperative Bank and forgeries related to this, the second concerns a forgery case at the former Cooperative Central Bank and the third concerns bribery and corruption in relation to the firm Focus.