Cyprus ex-governor says authorities asked for false audit of failed bank

Central Bank of Cyprus, Nicosia
The Central Bank of Cyprus
Photo: TourinNicosia/Wikimedia Commons

A former governor of the Central Bank of Cyprus (CBC) has accused the country’s former government of ensuring one of its largest banks was falsely audited before its collapse.

Athanasios Orphanides says that after he was no longer governor, the central bank joined with the government in pressurising auditors into making false statements. He was speaking to a judicial inquiry into the Cyprus Cooperative Bank on October 17.

The firm, also called the Co-op Bank, collapsed earlier this year. Some

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