The Court of Appeal unanimously rejected the appeals of the deceased Andreas Vgenopoulos, through the liquidator of his estate, and of Efthymios Bouloutas, which were directed against the decision of the Cyprus Securities and Exchange Commission, which had imposed on them administrative fines totaling 1.5 million euros.
According to the two decisions of the Court of Appeal, which it issued on October 17, 2023, the lawsuit against Vgenopoulos concerned a total administrative fine imposed by the Capital Market Commission of €705,000,
