Yet another trial ordered for experts attached to Greek privatization fund in 2013-14

Monday, 02 April 2018 21:08
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Six experts previously employed by Greece’s privatization agency between 2013 and 2014 have again been referred to trial on simple complicity and breach of faith charges – a back-and-forth legal quagmire punctuated by summary acquittals and appeals of those acquittals by prosecutors and appellate councils.

The case involving the six experts, three of which are third country European nationals dispatched by creditors to offer advice to the Hellenic Republic Asset Development Fund (HRADF), has generated sharp annoyance and criticism from the highest levels of European leadership.

The latest decision was handed down by yet another appellate level council of justices.

Three of the six executives are from Slovakia, Spain and Italy, respectively, and were appointed by the EuroWorking Group to the HRADF, part of the latter’s participation in the second Greek bailout program. 

The alleged breach of faith charge deals with the period 2013 to 2014, and relates to the sale of 28 state properties.

All six of the defendants have denied any wrongdoing, or any responsibility and or liability for the exploitation of the properties.

The 28 properties include five ministry buildings, 13 tax bureau offices and five police precincts, which were transferred to the fund with the intent of then achieving a “sale-and-lease-back” scheme.

The Spanish and Italian executives have served as the heads of relevant public property services in their countries, while the Slovakian man served as the president of the bourse in Bratislava.   

The main defense position expressed by representing attorneys is the fact that three served as consultants, whereas their proposals to HRADF’s board were not binding. 

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