This article talks about some key data of the bond purchase missing from the year 2007 - 2010. Data - deleting software's were found but it is not yet clear that the data was deleted by accident or deliberately.These came into light after an investigation was carried out by Alvarez and Marsal a financial consultancy. The Bank of Cyprus bought bonds worth 1.9 Bn euros which turned into losses after the Greek debt crisis. Alvarez and Marsalhave also scrutinised the banks operations in Russia and Romania.
Laika which is the second largest bank is also going to be investigated as there were signs that Cyprus government bonds were also purchased by Laika. They are also going to investigate Laikis role outside Cyprus and the parties involved in it. All these findings would be submitted to a special judicial panel which has been appointed by the Cypriot government to find out what happened leading to this financial crisis and also to find and pinpoint any wrongdoing.
http://www.bbc.co.uk/news/world-europe-22041122
Laika which is the second largest bank is also going to be investigated as there were signs that Cyprus government bonds were also purchased by Laika. They are also going to investigate Laikis role outside Cyprus and the parties involved in it. All these findings would be submitted to a special judicial panel which has been appointed by the Cypriot government to find out what happened leading to this financial crisis and also to find and pinpoint any wrongdoing.
http://www.bbc.co.uk/news/world-europe-22041122
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