ATTORNEY-general Alecos Markides yesterday gave the Central Bank the green light to release classified information concerning the accounts of people and companies which allegedly exported huge profits made during the 1999 stock exchange (CSE) boom.
The decision is expected to provide the House Watchdog Committee – currently investigating the CSE debacle in which thousands of investors lost millions – with vital information concerning the whereabouts of the money that has allegedly wound up in foreign accounts.
The committee had requested the information from the Central Bank earlier this year, but its Governor Afxentis Afxentiou refused to release anything, citing bank confidentiality.
The matter was referred to the Attorney-general, who yesterday delivered his ruling to the committee.
In a hefty report, Markides said the information concerning citizens and companies should be released to the committee.
Markides, however, told the committee that in cases concerning individuals there could be problems because of a recently passed data protection law.
Any publication or leak of data submitted by the Central Bank constitutes a criminal offence, not only for the medium that transmits it, but for the deputy who passed on the information, Markides said.
The ruling said such problem did not exist in the case of companies.
The Attorney-general struck a note of caution about the report that the committee will draft to present its findings at the end of the investigation.
As the report was a public document, Markides said, it should be handled with caution as it could contain the names and information handed over by the Central Bank.
Markides said he would advise the committee when the report was ready to be drafted.
Central Bank Governor Afxentis Afxentiou did not comment on the ruling, saying he had just received it.
He said he would confer with the committee to see how they would proceed.
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