NICOSIA (Reuters) - A court in Cyprus issued an arrest warrant on Friday against a former central bank governor after he did not appear at a hearing in a lawsuit brought by an investor hit by the island's economic crisis.

A judge in the coastal town of Limassol issued the warrant not on the merits of the case, but after ex-banker Athanasios Orphanides did not show at the hearing scheduled for Friday, according to Cyprus' state news agency.

The plaintiff in the case held bonds in the now-defunct Laiki Bank and claims he was defrauded of 400,000 euros by Laiki executives, and by extension the regulator, the central bank, the agency said.

Orphanides headed Cyprus's central bank from 2007 to 2012, when his contract expired, and now teaches global economics at the Massachusetts Institute of Technology in Boston. He did not immediately respond to a request for comment.

The lawyer for the plaintiff also could not immediately be reached for comment.

The next hearing in the case is scheduled for November 14.

Laiki Bank, once Cyprus's second-largest lender but crippled by its exposure to Greece in the group financial crisis, was wound down under terms of a 10-billion-euro international bailout in March.

Thousands of people with deposits exceeding the insurable limit of 100,000 euros lost their savings.

(Reporting by Michele Kambas; Editing by Sonya Hepinstall)


Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.




If you have any questions or concerns please email us on


  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.