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Greek tax investigators raid home of ex UBS-Boss & HFSF-Chairman affiliated with ND

Greek tax investigators raided the home of former local UBS bank boss in Athens in the context of  tax evasion probe based on account data acquired via Germany. The former UBS boss in Athens was also chairman of the Hellenic Financial Stability Fund where he was appointed in 2013 by the conservative-social New-Democracy – PASOK coalition. Sklavounis resigned from the HFSF post in March 2015, two months after SYRIZA gained power. What is interesting is that while Greece had obtained the data from Germany in 2012, New Democracy-PASOK had appointed him a year later.

According to Financial Times, the raid on Christos Sclavounis residence in  Athens took plane on July 4th.

“Police took away computers, documents and disks, according to people with knowledge of the raid.

Mr Sclavounis was UBS’s head of investment banking in Greece until his appointment by a centre-right government in May 2013 as chair of the Hellenic Financial Stability Fund, a rescue fund for the country’s stricken banks. He resigned in March 2015, two months after Alexis Tsipras’ leftwing Syriza party took power.

Mr Sclavounis, who has not been charged, declined to comment.

The Greek investigation is based on account information from UBS’s Geneva branch contained on a CD that German authorities bought in 2012 and subsequently shared with Athens. By cross-checking account numbers and dates of birth on that list with domestic records of transfers abroad, Greek investigators compiled a list of 1,000 suspected tax evaders, people familiar with the investigation said. Some have already agreed settlements, these people added.

Investigators are also probing the role of UBS and its bankers. They hope to access more account information from UBS’s offices in Zurich and Lugano and also its operations in Luxembourg and Singapore.”

The raid is the latest attempt by cash-strapped European nations to pierce the secrecy of Swiss banks in the hope of boosting depleted coffers.(full article Financial Times)

The date is based on a CD bought by the German state of North Rhine-Westphalia (Borjens List)  in 2012. The CD contained details of UBS accounts containing assets worth SFr3.5bn ($3.6bn)

Tuesday noon, Government Spokeswoman Olga Gerovasili confirmed the raid.

According to daily Efimerida ton Syntakton, Sklavounis was appointed as  advisor for Development by ND leader Kyriakos Mitsotakis in February 2016.

Taking position to the revelations, New Democracy issued a statement attacking SYRIZA for “resorting in new squalor” and pointing out at “slaughtering through taxation and pension and wages cuts” as well as at SYRIZA Ministers allegedly “involved in tax evasion, corruption.” However, even thought the statement is written in a rather confusing language missing any syntax, start and end, what is clear is that there is No Word about Sklavounis, though.

It is the second time someone with close connections to ND is involved in dark accounts in foreign banks. The first was Stavros Papastavrou, a close aide of ex PM Antonis Samaras.

The offices of the UBS in Athens were first time raided by economic prosecutors in December 2015.

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