Supreme Court orders retrial for 36 acquitted in 1999 ‘bubble stocks’ case

14 January 2016
167 Views

Greece’s Supreme Court on Thursday rescinded an Athens Criminal Appeals Court ruling that acquitted 36 defendants of charges in the notorious 1999 ‘bubble-stocks’ case on the Athens exchange.

Adopting the recommendation of Deputy Supreme Court Prosecutor Haralambos Vourliotis, it ordered a retrial on the grounds that the original court decision to acquit was not justified to the standards required by the Constitution and the penal code.

The 36 defendants in the case were business people, investors, brokers and ship owners that allegedly colluded to manipulate the Athens exchange and create ‘bubble stocks’ in 1999. They faced charges of fraud and money-laundering.

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