An Athens’ Court has prosecuted the Bank of Cyprus

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A Greek branch of the Bank of Cyprus (BoC) has been accused of “fraudulent conduct” in relation to 24 holders of securities of the Bank. Defrauded customers require compensation relating to their huge losses which were incurred in connection with this investment. The Athens Court ruled that BoC employees knowingly withheld information regarding the possibility of the value reduction of the bonds. The Bank plans to appeal the decision of a judicial authority.