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Cyprus freezes assets of former bank executives - Yahoo! News
Cyprus freezes assets of former bank executives - Yahoo! News
Cypriot authorities said on Friday they had temporarily frozen assets
of three former senior executives of a now-defunct bank whose demise
triggered Cyprus's chaotic bailout.
Cyprus's central bank said the
administrator it appointed for Popular Bank, also known as Laiki,
secured an interim court order freezing assets of Greek businessman
Andreas Vgenopoulos and two others.
All three, who are Greek nationals,
once served as directors at Laiki, now being closed down with thousands
of depositors losing their savings.
The central bank gave no reason for the asset freeze.
Laiki was effectively nationalised in
2012 and kept on a European Central Bank liquidity lifeline until
March, when a decision was taken to shut it down.
Vgenopoulos was non executive
chairman before he left in late 2011. The three bankers together had
nearly 5.3 billion euros in assets frozen, according to the central
bank.
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