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Cyprus

Authorities launch probe into CBC fee agreement

Rikkos Erotokritou

Authorities will launch a criminal investigation into a controversial agreement between the Central Bank (CBC) and a consultant firm to pay them a 0.10 per cent fee on any amount needed to recapitalise the banks, including when cash was seized from depositors, it was announced on Thursday.

The investigation will look into charges by CBC Governor Panicos Demetriades that confidential documents had been leaked to the media, potential document forgery, and possible deception of board members.

Deputy attorney-general Rikkos Erotocritou said the probe will cover the board and the governor, and possibly third parties.

 

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