An arrest warrant was yesterday issued against former Central Bank Governor Athanasios Orphanides after he failed to appear in court for a private criminal case over the misselling of bank bonds.
A Limassol resident who has not been named filed a lawsuit against Orphanides for deception and loss of €400,000 which he claimed to have been tricked into investing.
The plaintiff’s attorney Costas Melas said that “in a deceitful manner, Laiki bank through its employees and colluding with Orphanides have taken the amount of €400,000 from my client in return for bonds”.
He added that neither the former CB Governor nor his lawyer have appeared in court which is why an arrest warrant was issued.
Commenting on Orphanides being abroad, Melas said this was irrelevant, adding that “there are bilateral agreements to locate him wherever he is”.
“As far as I know, he is in the USA and an international warrant for his arrest will be promoted through relevant ministries to detain and bring him before the court,” he said.
The Limassol court said it will review progress on the matter on November 14.
Legal representation for former Marfin Popular Bank CEOs Andreas Vgenopoulos and Efthymios Bouloutas have asked for a postponement until November 14 to examine the acknowledgement of service documents presented to their clients and to either accept or contest them.
Melas mentioned that his client and other security holders “feel vindicated after a Central Bank probe found the selling of bonds was carried out in a deceitful manner”.
A number of security holders demonstrated outside the courthouse during the proceeding.
A similar case had been launched by a Paphos resident, but former Attorney General Petros Klerides had suspended the criminal investigation on grounds that Orphanides would never return to Cyprus.
At the time, Klerides had mentioned in a letter to the plaintiff’s attorney that there is no previous history of an arrest on account of private criminal proceedings.