Committees unwilling to examine the CSE scandal
Committees unwilling to examine the CSE scandal
4/6/2003 14:00
The 15-minute delay of the Chairman of the House Audit Committee, Christos Pourgourides, has ended up to the suspension of the session, which had planned to discuss the investigation of the CSE scandal. The members of the Audit and the Finance Committees assumed that such a delay would not allow the completion of the process and decided to live the room.

Mr. Pourgourides did not hide his anger and wondered how a short 15-minute delay could affect the entire process. The delay was attributable to a misunderstanding that concerned the opening of the session, sources told StockWatch.

The joint session was expected to discuss the second phase of investigation of the CSE scandal and examine the role and involvement of the companies in the scandal. The CSE-listed companies are expected to testify on issues concerning prospectuses, price manipulation, the pre-collection of money and the fraud against investors.

Pursuant to a confidential memo (that leaked out) prepared by the General Manager of the Parliament, the investigation MUST continue and be brought into completion the soonest possible.

To secure confidentiality, the sessions will be carried out in camera, while the operations of the two special directors employed by the Parliament will be conducted “on behalf of and by order of the two Committees”. The latter was deemed necessary after the CSE General Manager, Nontas Metaxas, has requested that the Parliament must announce the authorization of the two directors to receive the CSE documents.

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