NEWS

Sell-off fund experts to face trial

TAGS: Justice

An Athens appellate council on Monday reopened a case against six former executives of Greece’s privatization fund TAIPED, saying they should stand trial after all over the management of the company’s real estate portfolio.

The council’s judges ruled that the members of the experts council – three of whom are foreigners – should face charges of complicity in breach of duty for a non-beneficial sale and leaseback of 28 state-owned properties between 2013 and 2014 that allegedly resulted in losses to Greek coffers of tens of millions of euros.

Legal sources said the judges recognize the decision for the sale of the assets rested with TAIPED’s board and not its experts, adding that the former cannot be tried as the agency’s charters grant them immunity.

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