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Prosecutor wants to re-open stock exchange case

Supreme court prosecutor Efterpi Koutzamani called the decision to let 42 defendants in the stock market bubble “provocative.” The prosecutor also said that she is waiting for the decision to be registered so she can proceed to lifting the decision, asking at the same time to be handed the decision as soon as possible.

As she told the press, she wanted to look at the judges' opinions as she was not party to the evidence on which the decision was based, since as she noted the prosecutors in the case told her there was abundant evidence for establishing the charges.

Ms Koutzamani did warn that the registration of the court decision may take up to six months, meaning that the clock of the statute of limitations would start ticking as the trial deadline for such misdeeds is 15 years.

The case reached its final, if disappointing verdict, thirteen years after the huge scandal with the stock market bubble in which thousands upon thousands of small-time investors lost their savings and more, while social security fund assets were essentially looted in order to fuel bourse speculation.

Despite the expectation for some severity in the decisions of justice for a scandal that rocked Greece, the decision that shocked the public declaring all defendants not guilty.

This transforms the stock exchange scandal into a judicial scandal, as the court found all 42 defendants not guilty of felonious charges. More specifically the court opined that the charges for fraud did not stand as there was no evidence showing that the sale fo the stock packages in question influenced their final price on the stock exchange listing during the period in question.