MIG chairman may be charged with attempted extortion of 'Errikos Dynan'

Appeals court public prosecutor Pantelis Stragalis on Friday ordered that Marfin Investment Group chairman Andreas Vgenopoulos be charged with the attempted extortion of the 'Errikos Dynan' foundation, as the legal representative of Marfin Bank. The order to prosecute has been sent to the first-instance court prosecutors' office.

Stragalis also ordered that charges be brought against anyone else responsible and called for an inquiry into whether the bank was guilty of breach of faith.

The case was initiated after the head of the Errikos Dynan Foundation Andreas Martinis sued Marfin Bank for extortion, unfair competition and breach of faith.

The Errikos Dynan accused the bank of unjustifiably foreclosing on loans to the Foundation after it began collaborating with GAIA SA without any reason arising from the terms of the loan contract and even though the bank had multiple securities against its loan.

The Errikos Dynan accused the bank of unfair competition in order to preserve an oligopoly of maternity hospitals owned by the Marfin group.

Based on a preliminary inquiry when the Errikos Dynan first first filed against Marfin, a first-instance court public prosecutor found that the charges could not be upheld and asked that the suit be put on file. Stragalis did not agree with this assessment, however, and has asked that the case be prosecuted after all.

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