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Athens Times

The CHR. PROTOPAPAS NEW PRESIDENT OF THE BONDS FOR Examining … FIRST FILING. PRESIDENT OF THE POLICE FUND

Lincoln, Nebraska, Progressive Party Convention Ribbon, 1912 Politics
Image by Cornell University Library

(Title) PASOK MP, Christos Protopapas, was elected with the support of Independent MP, Nick Tsoukalis, new chairman of the House Committee of Inquiry which is investigating the case of bonds, replacing Dino foresee, given Secretary of State Development.
At today’s meeting, which noted that he has left the Southwest, testified the former president of the Police Relief Fund, Anastasios Dimoshakis.

As it became known, Mr. Dimoshakis submitted, inter alia, that:
* The Police Relief Fund has invested 6 million in structured bonds, which had issued the Greek government to sponsor the National Bank of Greece (NBG), the purchasing the nominal value of the whole package and not just the bond.
* The EIB, other than sponsor of the bond was and informal adviser to the Fund investment issues.
* The bond was purchased with the commitment by the Bank that the Fund will receive the capital, which invested plus a minimum return of 50% at 20 years horizon.
As noted by PASOK at the same time a simple submission to the Bank of Greece under the then conditions would give an annual rate of 3.7%, which yield 85%.
In addition, members of PASOK claimed that Mr Dimoshakis in his testimony stated that the Police Relief Fund was informed in writing by the Ministry of Labour and the Bank of Greece, but to get a reply.

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