Been working today on another section of my Open Letter to the Greek Supreme Court, this time relating to a vast and complex fraud which may have cost Greeks and Cypriots billions.
Please note, this is a draft based on limited information available in English as I do not speak Greek. It is subject to revision and correction.
The main source is
I think these prosecutors need to pursue these crimes under organized crime as well as financial fraud and market manipulation laws.
A. The credit bubble cycle
Banks are required by financial regulators to hold a certain amount of capital or equity. The capital they hold determines the amount of money that they are allowed to lend.
Marfin and their co conspirators, IRF and Vatopedi, began a fraud to significantly increase Marfin’s capital or equity in order to allow Marfin to lend more money than they would have…
View original post 1.170 woorden meer