International

Former EIB President Under EU Probe for Financial Crimes

European Union prosecutors, entrusted with investigating serious financial crimes, are investigating the former president of the European Investment Bank (EIB).

The European Prosecutor's Office, led by Laura Codruța Kovesi, stated on June 24, in a declaration, that the investigation targets "two individuals suspected of corruption and abuse of influence, as well as embezzlement of EU funds," reports Politico.

The President of the European Investment Bank has denied any wrongdoing through his lawyer.

Headquartered in Luxembourg, the EIB functions as the lending arm of the community bloc and contributes to stimulating development and integration within the community space by granting loans, guarantees, and investments in both public and private sectors.

Translation by Iurie Tataru

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