NEWS

‘Proof’ of stock scam unveiled

The Public Portfolio Management Company (DEKA) spent more than 700 million euros on manipulating the Athens bourse during the 2000 pre-election period, New Democracy Deputy Miltiades Evert said yesterday while providing evidence he said backed his claim. Evert was speaking on the second and final day of his testimony at a trial held to determine whether DEKA’s management is guilty of breach of faith by buying stocks before the parliamentary elections five years ago. The conservative party’s ex-president, Evert, presented to the courtroom minutes from a DEKA meeting held on April 3, 2000 that allegedly show the company’s decision to spend 250 billion drachmas (733 million euros) on shares. «They (DEKA) decided to spend 250 billion drachmas. Are we talking about peanuts here?» Evert said. The previous PASOK government has been accused of ordering the acquisition of shares in state-owned companies as a means of gaining political ground during the period before the April 9, 2000 elections. The trial continues today.