Shockwaves in Greece as Bank of Greece Governor’s home raided as part of corruption investigations

BankOfGreeceGovernor Fotor

BankOfGreeceGovernor Fotor

Corruption prosecutors have raided the family home of Yiannis Stournaras, Governor of the Bank of Greece, as part of an ongoing investigation into possible corruption linking advertising funds of the Hellenic Centre for Disease Control and Prevention (HCDCP) received by a company linked to the central banker's wife Stavroula Nikolopoulou-Stournara.

It is expected that the Bank of Greece will release a statement on the matter, but sources allege that during the raid judicial officials refused to show identification.

This is the second investigation concerning the HCDCP's advertising spending, following an investigation that culminated in the prosecution of the agency's director and board members in 2015 for breach of faith, concerning their actions in the years 2011-2013.

Based on evidence collected by the corruption prosecutors in that case, which is now in the hands of an examining magistrate , the HCDCP spent sums greater than 2.0 million euros on messages to inform the public about health issues, such as the seasonal flu and others, which could have been broadcast without charge as public service messages. In addition, the investigators discovered irregularities in some of the related tender procedures, while in one case the contract was awarded to a company that should have been ruled out for non-payment of social insurance contributions.

Prime Minister Alexis Tsipras first learned of the raid through the Governor of the Bank of Greece himself, who called him to inform him what had taken place.

Both Tsipras and Stournaras asserted their confidence in the independence of the Greek judicial system and the investigation, although ongoing will not affect the relationship between the Government and the Bank of Greece.

GCT Team

This article was researched and written by a GCT team member.

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