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Ex-bank Chairman Guilty of Federal Fraud Charges ? What Happened Next?

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Ex-bank Chairman Guilty of Federal Fraud Charges ? What Happened Next?

Ex-bank Chairman Guilty of Federal Fraud Charges – What Happened Next?

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Home Page > News and Society > Journalism > Ex-bank Chairman Guilty of Federal Fraud Charges – What Happened Next?

Ex-bank Chairman Guilty of Federal Fraud Charges – What Happened Next?

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Posted: Jan 12, 2011 |Comments: 0


An article entitled Ex-bank Chairman Guilty of Federal Fraud Charges appeared in he Houston Chronicle in June 1992. Being in the archives of that newspaper, and available on the web from its site,, this articles has been extant since the site’s establishment. However, mentioned in the article is Vassilios Tsitsiringos, who has never been charged, or tried for bank fraud, and in fact, exonerated from such a charge by a Greek court in 1992.  Under the now universally accepted principle of Double Jeopardy, Dr. Tsitsiringos cannot be tried for the same offence twice.

Nevertheless, the US Justice Department, contrary to the Treaty, and also the bi-lateral agreement between Greece and the US to respect each other’s judgments, continues to leave such allegations on its books. The final judgment of the Athens Misdemeanors court collaterally stops the US Justice Department from re-litigation.  Yet shamelessly, and in very poor reporting policy, articles such as Ex-bank Chairman Guilty of Federal Fraud Charges remains on the internet and in the search engines. It is nothing more than irresponsible reporting. Such archived articles should be updated to reflect current status, or else, relegated to a less priority in search engine protocols. This is not the case.

As is a verily highly ranked site, whatever they have will get a priority search engine result status, even if an article is inappropriate, full of half-truths, or pure speculation. One can see the Lingering Factor at work here, and to the detriment of the innocent mentioned in these out-dated, and speculative articles that appear even as fresh news in a search engine inquiry.  However, articles from lesser rated sites (Google rates rank 7…their highest), even very popular and pertinent sites, ranked as high as 6 on the Google ranking scale, are passed over and not given precedence in the form or relevance or timeliness.

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So what did happen to the ex-bank chairman? Did he serve time? What happened to his bank? What happened to the other related defendants? Does anybody know? Does anybody care after 20 years?  We can tell you here. The ex-bank chairman, Mr. Fred McLeod, was convicted in 1992 and given 6 months in a half way house and 5 years probation plus ,000 fine. Mr. Bill Vasos got only 5 years’ probation and ,000 fine, and Dr. Tsitsiringos who resides in Greece was exonerated in 1992 with an irrevocable decision #5756 by the Athens court. This decision is recognized by the EU Article 54 of the Shengen Convention and the US is bound to respect the same under Article 4 of the Treaty between the US and the EU. So much for the long forgotten unimportant case in 1992, lingering and persisting in the cloud of internet information. Glad to set the record straight here.


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Sotiri Fox
About the Author:

S.Fox is a free-lance international journalist


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