30 April 2015
Central Bank of Cyprus (CBC) has appointed a new set of investigators to audit the anti money laundering procedures at the Cyprus Branch of FBME. The advisers appointed by the Central Bank are international law firm DLA Piper, financial investigators Kroll and Cypriot lawyers Georgiades & Pelides.
23 April 2015
Head of the Parliamentary Merit Committee, Demetris Syllouris MP, went on Sigma TV in the evening of 21 April to speak about the cancellation of the Parliamentary group’s hearings into actions taken against FBME Bank and its branch in Cyprus by the Central Bank of Cyprus and its Resolution Committee.
22 April 2015
A failure of key government officials to attend caused for the third time the Cyprus Parliamentary hearings into what has become known as the ‘FBME affair’ to be cancelled. The hearings have been called by MPs who sit on the Parliamentary Merit Committee which oversees the actions of State officials and civil servants, and the stated aim has been to investigate the actions taken against FBME Bank and its Cyprus branch by the Central Bank of Cyprus.
21 April 2015
The Administrator of the Cyprus Branch of FBME, Dinos Christofides, left the Cyprus branch of FBME Bank at 2pm yesterday, Monday 20 April, saying he will not return until Monday next week, 27 April. In time-honoured fashion, he managed not to warn anyone before he walked out, leaving the Bank’s efforts to meet payments to its depositors to grind, once more, to an undignified halt!
17 April 2015
The third date for the Parliamentary Ethics Committee’s hearing into the action taken against FBME Bank’s Cyprus branch is next Tuesday, 21 April. A brief confirmation of the agenda is on the Parliament’s website at http://www.parliament.cy/easyconsole.cfm/id/326.
The website says the Committee will investigate “actions of the Government that could harm the public interest” in relation to FBME.
16 April 2015
On 9 April 2015, FinCEN, the investigative bureau of the US Department of the Treasury, published confirmation of a meeting with Hogan Lovells, the lawyers for FBME Limited in Washington DC.
To see a copy of the announcement and a related comment from FBME click here.
2 April 2015
Senior government officials, including the Governor of the Central Bank of Cyprus, failed to attend the scheduled meeting on 31 March of the Cyprus House of Representatives’ Oversight Committee. This meeting was intended to allow Members of Parliament to investigate the causes and consequences of the actions taken by the Central Bank against FBME Bank’s Cyprus branch and the impact of these actions on the public interest in Cyprus. The meeting has been rescheduled for 21 April and once more will be held in camera.