NEWS

Bond suspects to face questions

Suspects implicated in a recent pension fund scandal are expected to be summoned for questioning by an investigating magistrate next month, following completion of a probe into the matter last week. The findings of the probe by Giorgos Zorbas, head of the committee formed to combat money laundering, were submitted to investigating magistrate Giorgos Lekkas, who will decide on who should be held responsible for the offenses described in the Zorbas investigation. The 30-page report, which has not yet been made public, lists a number of criminal actions committed, but without identifying who may be responsible for them, according to sources. Judicial officials completed their own investigation into the scandal in June and filed charges against 50 officials of state pension funds, banks and brokerages. None of the names has been made public. Meanwhile, the offer made by investment bank JP Morgan to buy back a 280-million-euro bond at the center of the scandal appears to have reached an impasse, with the financial institution blaming unions for not accepting their terms. JP Morgan said union groups ADEDY and GSEE have not accepted a confidentiality clause that comes with the offer and have not ruled out seeking further compensation against the bank. The two union groups say that they have not been approached regarding the terms.