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Investigators Hit Brick Wall; Bank Of Cyprus CEO Hard Drives Wiped

Tyler Durden's picture


As the investigation into unusual loan write-downs and the 'premature' movement of capital away from Cyprus by the elites of that nation progresses, Cyprus Mail reports that the investigators - Alvarez and Marsal (A&M) - have found that the information provided by Bank of Cyprus (BoC) was incomplete and data deleting software were found on the computers of two senior executives. "Our computer forensic technologists have found that the computers of two employees, (former CEO) Mr. (Andreas) Eliades and (senior manager group treasury and private banking) Christakis Patsalides, have had wiping software loaded, which is not part of the standard software installations at the BoC." Investigators found no e-mail files, mailboxes or user documents on Eliades’ desktop computer - "we had significant gaps in the e-mail data received from BoC for the period 2007 to 2010, a key period for our scope of investigation," and no email backups were performed. A&M is looking into how BoC accumulated €2.4bn worth of Greek government bonds (GGBs), later suffering huge losses because of that, and into BoC’s expansion to Romania and Russia. We are sure this is all above board and normal IT protocol for the bank... or not.

Via Cyprus Mail,

Deletion of data allegedly took place on computers belonging to senior Bank of Cyprus (BoC) executives, according to the leaked findings of a probe into the circumstances that forced the island’s biggest lenders to seek state assistance.


Alvarez and Marsal, the firm tasked with investigating why Bank of Cyprus and Laiki sought state assistance, said the information provided by BoC was incomplete and data deleting software were found on the computers of two senior executives.


“Our computer forensic technologists have found that the computers of two employees, (former CEO) Mr. (Andreas) Eliades and (senior manager group treasury and private banking) Christakis Patsalides, have had wiping software loaded, which is not part of the standard software installations at the BoC,” A&M said. “Mass deletion of data appears to have been undertaken on the Patsalides computer on October 18, 2012.”


A&M’s findings were handed over to parliament on Wednesday.




Investigators found no e-mail files, mailboxes or user documents on Eliades’ desktop computer.




A&M said there were more gaps in the data collection.


“We had significant gaps in the e-mail data received from BoC for the period 2007 to 2010, a key period for our scope of investigation,” the firm said.




A&M said its team was not authorised to issue subpoenas or compel anyone to attend an interview or compel the production documents and data if they did not work for an entity supervised by the CBC.


However, any conduct identified as suspicious will be surrendered to the attorney-general, A&M said, citing the CBC.


A&M looked into how BoC accumulated €2.4 billion worth of Greek government bonds (GGBs), later suffering huge losses because of that.


It also looked into BoC’s expansion to Romania and Russia.




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Fri, 04/05/2013 - 11:12 | 3412834 RacerX
RacerX's picture

Lol.. This is going to be like an episode of the 3 stooges. Larry, Curly & Mo.

Fri, 04/05/2013 - 11:21 | 3412880 BaBaBouy
BaBaBouy's picture

Guess WHAT ???

ALL The (Paper) Fiats In The WHIRLD Are Hard Drive Based Data.


GOLD Anyone .?.

Fri, 04/05/2013 - 11:37 | 3412949 idea_hamster
idea_hamster's picture

I've heard that waterboarding has the ability to jog someone's memory as to who said what and when.

After all, do we really care which of the technocrat central banksters we line up against the wall first?  They'll all get their chance eventually....

EDIT: for TPTB who care -- I'm talking about mug shots here.  Seriously.

Fri, 04/05/2013 - 11:40 | 3412972 ihedgemyhedges
ihedgemyhedges's picture

I am sure this was accidental.  They were trying to download special SEC porn programs, but inadvertantly downloaded hard drive wiping software instead.....

Fri, 04/05/2013 - 12:14 | 3413141 Ahmeexnal
Ahmeexnal's picture

They wiped all those bitcoins with wiping software?

Fri, 04/05/2013 - 12:32 | 3413239 krispkritter
krispkritter's picture

AAAAnnnndddd it's GONE!

(somebody had to say it)

Fri, 04/05/2013 - 14:21 | 3413609 gmrpeabody
gmrpeabody's picture

Holder's clean-up crew must be moonlighting...

Fri, 04/05/2013 - 17:30 | 3414366 MagicHandPuppet
MagicHandPuppet's picture

Lol.  I'm sure it was just routine computer maintenance.

Fri, 04/05/2013 - 12:04 | 3413112 donsluck
donsluck's picture

Incorrect. My paper money is not on a hard drive. This is why the only safe investments are PMs and cold hard paper physical cash.

Fri, 04/05/2013 - 12:28 | 3413212 Jack Napier
Jack Napier's picture

Paper is as safe compared to digital dollars as gold and silver are safe compared to paper. Cash is good to have in a crunch, but it's a terrible investment.

Fri, 04/05/2013 - 12:06 | 3413116 Going Loco
Going Loco's picture


Fri, 04/05/2013 - 14:44 | 3413684 Bunga Bunga
Bunga Bunga's picture

Never heard of brain wallets?

Fri, 04/05/2013 - 12:17 | 3413152 Papasmurf
Papasmurf's picture

Hard drives. . . bitcoins. . . gold. . choice is easy.

Fri, 04/05/2013 - 11:49 | 3413037 Banksters
Banksters's picture



Binary for, no proof here, dummies.



Banksters 1

Investigators 0

Fri, 04/05/2013 - 12:21 | 3413172 Big Slick
Big Slick's picture

There are 10 types of people in the world... those who understand binary and those who don't

Fri, 04/05/2013 - 16:25 | 3414114 Dodgy Geezer
Dodgy Geezer's picture

"There are 10 types of people in the world... those who understand binary and those who don't"


While there are FA people who understand hex...

Fri, 04/05/2013 - 13:55 | 3413522 Taint Boil
Taint Boil's picture I have it -it is free. remove, or shred files permanently from your system you have to use a program that is capable of rewriting the files with random series of binary data multiple times. This process is often called shredding. That way, the actual content of the file has been overwritten and the possibilities to recover such a shredded file are mostly theoretical.

Fri, 04/05/2013 - 14:16 | 3413589 Ying-Yang
Ying-Yang's picture

or you beat the hell out of the hard disk

Fri, 04/05/2013 - 14:39 | 3413669 post turtle saver
post turtle saver's picture

No, actually that's recoverable. Pro tip: shredding software + thermite = no worries.

Fri, 04/05/2013 - 19:08 | 3414671 PhysicalRealm
PhysicalRealm's picture

Re: Taint Boil's suggestion of , if you have the luxury of being able to wipe an entire HD, use Darik's Boot and Nuke . Regarding mutilating, breaking, hammering etc., on a HD, data can almost always still be recovered.  Questions I'd have here, though, would be regarding personal mobile devices belonging to the crooks, and ISP records.  (In the US, at least, all ISPs keep copies of emaill at least for a while - and that was true long before the Utah Data Center was even a glimmer in some Orwellian gooberment asshole's mind.) 

Fri, 04/05/2013 - 11:53 | 3413045 overbet
overbet's picture

Now the people should know this is where their hit list starts.

Fri, 04/05/2013 - 13:03 | 3413356 SilverRhino
SilverRhino's picture

Are they seriously peddling the notion that they cant find his emails????   

Uh, Exchange server anyone? 

Restore from backup?   


Fri, 04/05/2013 - 15:30 | 3413867 Goner
Goner's picture

From the Article "and no email backups were performed."

I have a bit of experience with backups and email and I can tell you even small shops have email protection. The fact this bank does not (at least now) means this went even further. There are two options

1) The investigators have no idea what they are doing when then looked at the Backups (highly unlikely)

2) The executives told the IT people to erase it

Grab the IT guys and threaten them and I bet you get some answers. Depending on the process used, you may even be able to rebuild the deleted backup data.

Give me a few hundred thousand Benny Bucks and I will help consult

Fri, 04/05/2013 - 21:42 | 3415180 MeelionDollerBogus
MeelionDollerBogus's picture

they still get to choose where that data is stored, and if that 'where' is a hot-swappable drive and/or a ram-disk - the software doesn't care so long as it has a location to drop to - then I guess that solves that, doesn't it?

Fri, 04/05/2013 - 11:12 | 3412835 fonestar
fonestar's picture

Interesting they wiped the hard drives.  Now try "wiping" the block-chain.

Fri, 04/05/2013 - 11:13 | 3412846 tarsubil
tarsubil's picture

They probably used US DoD standards for disposing of evidence.

Fri, 04/05/2013 - 11:20 | 3412872 ParkAveFlasher
ParkAveFlasher's picture

AAAnd the next wave of technological achievement is the dot matrix printer.  Finally, a safe and secure means of storing large amounts of data.

1979, bet your ass!

Fri, 04/05/2013 - 11:20 | 3412881 malikai
malikai's picture

These guys look at PCs to find emails and funds transfers. And this is a bank we're talking about right? Anyone think of the servers?

It's no wonder Cyprus is fucked.

Fri, 04/05/2013 - 11:28 | 3412923 Groundhog Day
Groundhog Day's picture

Malikai,  If it were a legitimate investigation that would be the logical place to look, but this is a dog and pony show in a circus so they'll keep looking at the hard drive to keep the sheep at bay

Fri, 04/05/2013 - 11:43 | 3412983 Telemakhos
Telemakhos's picture

The server is where you store business data that doesn't get you indicted if one of your IT geeks decides to leak it to the press.  Moreover, that's where lower- and mid-level employees keep their data, because IT sees their computers as fungible and instantly-replaceable.  The investigators probably got a copy of the server data some time ago; much of the money laundering should be there.

The C-level employee's PC hard drives, though, might contain stuff that the IT staff can't be trusted to keep secret.  Things like bribes to politicians, blackmail-ready info, etc.  Moreoever, encrypted e-mails might make their way onto the PC hard drive in unencrypted form, but live on the server only as gibberish.  So, checking the hard drives isn't dumb.

The interesting thing is not that the C-levels were destroying evidence, but when: October, 2012.  That's when the high-level bank staff knew for sure that they were fucked.  That should characterize a turning-point in the history of BofC.

Fri, 04/05/2013 - 13:59 | 3413520 Acet
Acet's picture

In a company the (email) server is where the e-mails are.

E-mails stored in the PC are just local copies.

PS: This is a professional, expert opinion.

Fri, 04/05/2013 - 15:36 | 3413891 Goner
Goner's picture

Everyone knows you dont use company email when you steal, lie or cheat. Your own staff can track and give evidence against you.

You use a hotmail account /sarc

ps. Love that someone dinged you for stating facts

Sat, 04/06/2013 - 02:12 | 3415585 Andre
Andre's picture

POP3 and delete from server once it hits the local drive.

Some still recoverable from the server to some extent, but use over time has a way of making life (and recovery) a bit harder.

Now, if those were solid state drives with leveling turned on (which it almost always is) - fun, fun in the sun, sun.

Sat, 04/06/2013 - 13:53 | 3416497 MeelionDollerBogus
MeelionDollerBogus's picture

I doubt they're using POP3. The corporation I work for isn't. There's reasons for that, part of which are reporting abilities, part of which is being able to trash entire computers as needed without a loss of emails, schedules, etc. (exchange server) or whatever else companies choose to use.

It's a bank, a big bank, not a mom 'n' pop using pop3 or hotmail.

Sun, 04/07/2013 - 06:40 | 3418073 Acet
Acet's picture

As the man said, large companies doen't use POP3.

Amongst other things, if they used POP3, when a user machine died, all their e-mails would be lost (and doing backups on the server or even setup multiple servers in a redundant configuration is far easier than backing-up thousands of user machines).

Also you can't have e-mail accessible from multiple devices (say, a desktop PC and notebook and a BlackBerry) with POP3.

They're either using Exchange or IMAP, both of which keep the e-mails in the server.


PS: in response to the guy that mentioned hotmail, the overwelming majority of banks block that at the firewall level.

Fri, 04/05/2013 - 12:31 | 3413226 BigJim
BigJim's picture

If the bank's IT department followed normal backup procedures, there will be scores of DLT/LTO/3592 tapes with snapshots of that data.... if anyone really wants it to be found, of course.

Fri, 04/05/2013 - 12:53 | 3413314 Ahmeexnal
Ahmeexnal's picture

Do you store your bitcoin wallet in DLT/LTO?
Nah, these "new kids on the block" when it comes to IT only know USB thumbdrives, "backing up on iCloud or FaceBook" and iPads.
"Normal backup procedures" usually mean no backup until a SHTF event takes place.

Fri, 04/05/2013 - 12:58 | 3413338 BigJim
BigJim's picture

The missing stuff dates back to 2007... and the system they were using almost certainly pre-dated that. So chances are pretty good they were backing up onto tape.

Sat, 04/06/2013 - 13:51 | 3416489 MeelionDollerBogus
MeelionDollerBogus's picture

OK, now ask yourself: is that the actual hard drive that was actually there before, or were the "acceptable files" and sectors duplicated to another hard drive while the other one is just flat out gone?

I also made another comment about routing to ram-disk so nothing would be saved yet all the software wouldn't question it so long as it has a place to store the files as usual, as if it was a hard-disk.

Fri, 04/05/2013 - 11:12 | 3412839 Ancona
Ancona's picture

Deletion is the solution. Cyprus is just the beginning.

Fri, 04/05/2013 - 11:28 | 3412919 MsCreant
MsCreant's picture

Ctrl+Alt+Del for the whole thing is the real solution.

Fri, 04/05/2013 - 14:51 | 3413708 Bunga Bunga
Bunga Bunga's picture

Wipe out the debt. Treasury should get Turbo-Wipe!

Fri, 04/05/2013 - 11:12 | 3412842 centerline
centerline's picture

Again.  I am shocked.

Fri, 04/05/2013 - 11:12 | 3412843 TeamDepends
TeamDepends's picture

Going all in with other peoples' money is a tried and true strategy.

Fri, 04/05/2013 - 11:13 | 3412847 Zero Debt
Zero Debt's picture


Fri, 04/05/2013 - 11:13 | 3412848 Winston Churchill
Winston Churchill's picture

Shocked, totally shocked, that gambling goes on there.

Fri, 04/05/2013 - 11:14 | 3412853 Dr. Engali
Dr. Engali's picture

Well there's a shocker. Now all we need to make the farce complete is them being questioned by parliament on their version of C-SPAN with the title of "honorable" in front of their names.

Fri, 04/05/2013 - 11:17 | 3412867 Bearwagon
Bearwagon's picture

Maybe it originally was meant to spell: "Homo-rape-able"?

Fri, 04/05/2013 - 11:15 | 3412856 Richard Head
Richard Head's picture

And still, not one Cypriot banker hangs from a lamp post.  What does it take, people????

Fri, 04/05/2013 - 11:19 | 3412878 CommunityStandard
CommunityStandard's picture

Exactly.  Rule of law won't be enforced if the people don't care.

Fri, 04/05/2013 - 11:37 | 3412961 NoDebt
NoDebt's picture

They're making us all look bad.  Lying bankers and politicians will keep right on doing this shit until somebody pushes back.  Right now, nobody's pushing back.  Just lying there and taking it.

Fri, 04/05/2013 - 11:45 | 3413000 Gief Gold Plox
Gief Gold Plox's picture

All Cypriot lamp-posts were shipped to the ECB as collaterol for the 18million eur they need to raise in order to fullfill their part of their own bailout.

Fri, 04/05/2013 - 11:15 | 3412858 Bearwagon
Bearwagon's picture

That is sad. With these harddrives wiped, there only remains the medievil way to get the desired information. Heat up some rods and get the waterboard ready!

Fri, 04/05/2013 - 11:20 | 3412883 HD
HD's picture

No need. Just throw them out on main street for a nice spring walk. 


Fri, 04/05/2013 - 11:15 | 3412859 Olephant
Olephant's picture

Just lock them up until they talk ? oh wait the law is not meant for them. Silly me.

Fri, 04/05/2013 - 11:18 | 3412870 Smuckers
Smuckers's picture

If their primary search effort is to look at the end-user desktop, they are simply too stupid to find anything of relevance.

Long strong magnets and server boating accidents.


Fri, 04/05/2013 - 11:23 | 3412897 HD
HD's picture

My understanding is that CIA uses power drills and a bucket of bleach.

Fri, 04/05/2013 - 11:30 | 3412927 Olephant
Olephant's picture

What about pre installed thermite charges on your hard drives in case you need to leave in a hurry ?

Fri, 04/05/2013 - 11:39 | 3412968 NoDebt
NoDebt's picture

They burn them.

Fri, 04/05/2013 - 12:33 | 3413242 BigJim
BigJim's picture

 If their primary search effort is to look at the end-user desktop, they are simply too stupid to find anything of relevance.

It is possible they were using purely workstation-based email 'solutions' like Outlook Express for their email... in anticipation of just such a scenario.

Fri, 04/05/2013 - 11:18 | 3412871 williambanzai7
williambanzai7's picture

Perfectly normal protocol under Basel III and MF Globals model rules of corporate governance.

Fri, 04/05/2013 - 11:28 | 3412912 Miss Expectations
Miss Expectations's picture

Carried out by the hard driving Evil Knights' Template?

Fri, 04/05/2013 - 11:19 | 3412874 sansnobel
sansnobel's picture

The People of Cyprus Don't have a man among them if they don't demand these motherfuckers heads on a platter right now.

Fri, 04/05/2013 - 11:42 | 3412979 Silver Garbage Man
Silver Garbage Man's picture

The people of Cyprus likely don't get this kind of info.

Fri, 04/05/2013 - 11:22 | 3412885 Rustysilver
Rustysilver's picture

Why did the executive have access to Hard Drives.  Should the IT department handle it.  Oops, they're in India. Too fvckin bad.  How about a backup of all the servers data that's is stored off site, in a secure area.   Something stinks here. No this is not dead Chinese pigs.

Fri, 04/05/2013 - 11:28 | 3412926 Matt
Matt's picture

How can someone have a laptop they use for work every day, but be unable to access the hard drive?

Fri, 04/05/2013 - 11:21 | 3412886 Debeachesand Je...
Debeachesand Jerseyshores's picture

All that infomation must be in the "cloud" somewhere,I think.


Yeah right.

Fri, 04/05/2013 - 11:21 | 3412888 MaxMax
MaxMax's picture

Wiping drives with sofware isn't the best method.  Physically breaking the drive is better.  Depending on how good the forensic guys are, often wiped drives can be restored if you have the right tools.  Even physically damaged drives can sometimes be resurrected.  Then there is the whole matter of were information is stored.  Do they really think that the sole copy of email resides on one computer?  That's not the way email works.   There are things involved like mail servers, backups not to mention all the data monitering by the governments.  Assume every phone call, electronic transmission,  online purchase, toll tag, etc is recorded because it probably is.

Fri, 04/05/2013 - 11:25 | 3412903 HD
HD's picture

Maybe the friendly folks at the Utah Data Center can help. I knew losing my civil liberties would benefit someone.

Fri, 04/05/2013 - 12:23 | 3413184 Big Slick
Big Slick's picture

I never understand why people don't just smash, burn, drown their PCs.

Live by digital, die by digital I guess

(Also a slogan at the FED)

Fri, 04/05/2013 - 12:28 | 3413217 forwardho
forwardho's picture

+1 for the slogan!

Fri, 04/05/2013 - 11:32 | 3412933 Rustysilver
Rustysilver's picture

The best method is a hammer: to the HD platter. Adam Lanza knew how to do it.

Fri, 04/05/2013 - 11:40 | 3412973 Bearwagon
Bearwagon's picture

Plasma arc cutter is even better ...

Fri, 04/05/2013 - 11:35 | 3412952 Matt
Matt's picture

1. magnitite dissolves in hydrocloric acid

2. magnitite has a curie point of 858 K

The magnetic storage part of  Hard Disk Drives are typically made of magnitite.

Maybe the Cyprus bankers use P2P PGP e-mail? You know, just to be safe. Otherwise,maybe  the emails were cleared off the servers every 3 months as part of their data retention policy.

Mon, 04/08/2013 - 02:15 | 3420925 MeelionDollerBogus
MeelionDollerBogus's picture

LOL - data retention policy FOR THE MUTHA FUCKIN WIN.

Fri, 04/05/2013 - 12:27 | 3413209 forwardho
forwardho's picture

Thus the dates missing 2007- 2010.

Two+ years of overwriting "wiped" sections.


Fri, 04/05/2013 - 11:23 | 3412893 Dr. Venkman
Dr. Venkman's picture

I am sure this is limited to the BoC. TBTF banks are probably redoubling their data storage methods to ensure that when SHTF a full accounting can be made and all guilty parties are exposed.

Fri, 04/05/2013 - 11:23 | 3412896 fonzannoon
fonzannoon's picture

just buy the dip

Fri, 04/05/2013 - 11:24 | 3412901 Zero Debt
Zero Debt's picture

Thanks for the reminder. I was getting all excited about the news, thinking "This is the Big One". Sorry.

Fri, 04/05/2013 - 11:30 | 3412929 HD
HD's picture

When the "big one" hits it won't be a 1% down day. Market will open up 500 points down and keep going. At least that's what I tell myself everyday when the bang the close.

Fri, 04/05/2013 - 11:26 | 3412905 firstdivision
firstdivision's picture

It really was an accidental delection.  I'm certain that the CEO never did anything to bypass the Finacnail rules and regulations

Fri, 04/05/2013 - 11:27 | 3412906 One of We
One of We's picture

"...have had wiping software loaded, which is not part of the standard software installations."  LMFAO!

Of course they could just ask NSA to pull the data from one of their fusion centers? 

Fri, 04/05/2013 - 12:24 | 3413190 forwardho
forwardho's picture

+1, One.

My first thought.

Great minds and all that...

Fri, 04/05/2013 - 11:39 | 3412910 Yen Cross
Yen Cross's picture

     I wish someone would do that to the hard drive between Bernankes ears.

Fri, 04/05/2013 - 12:09 | 3413122 Jena
Jena's picture

There are viruses that can do that.

Fri, 04/05/2013 - 11:28 | 3412921 Peter Pan
Peter Pan's picture

Like I keep saying, unless banks are forced to install black boxes capturing all transactions and communications, these banking scum will forever evade punishment.

Fri, 04/05/2013 - 11:30 | 3412928 Son of Loki
Son of Loki's picture

How about jail time until they produce the evidence. you can be sure they have the data hidden somewhere as 'insurance.' Spend time in the prison with some of the folks who got their dough stolen and i suspect they will talk.



Fri, 04/05/2013 - 11:33 | 3412937 RSBriggs
RSBriggs's picture

They probably have the data on an encrypted USB stick somewhere - right along with their Bitcoin wallet.

Fri, 04/05/2013 - 11:40 | 3412975 Matt
Matt's picture

Why waste money on prison? "I sentence you to live amongst the people whose money you lost". Like house arrest with the ankle tracker, except instead of your own home, one surrounded by the retirees, business owners, etc.

Fri, 04/05/2013 - 11:50 | 3413034 Alpha Monkey
Alpha Monkey's picture

And a sign in the front yard informing all who pass by of the occupants crimes... maybe we need a list like we do for sex offenders.

Fri, 04/05/2013 - 11:59 | 3413081 Diogenes
Diogenes's picture

Take all their money except 100,000 Euros and dole that out at 300 a day max. Let them live like their victims, as well as among their victims.

Fri, 04/05/2013 - 11:32 | 3412932 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Surprise, surprise. The old fashioned analog way of tying people to chairs with pillow cases over their head interogation methods are in order now.

Fri, 04/05/2013 - 11:33 | 3412936 asscannon101
asscannon101's picture

Not a problem. Back ups are probably somewhere in the basement of the Greek Ministry of Finance...


Fri, 04/05/2013 - 11:37 | 3412954 Peter Pan
Peter Pan's picture

Funny you should say that because they have a whole parliamentary inquiry going on over a missing/tampered USB given by Lagarde with lists of Greeks having foreign accounts. No action taken yet despite that USB being around two years old.

Fri, 04/05/2013 - 11:49 | 3413024 Telemakhos
Telemakhos's picture

It was a CD at first, and that's "lost" now, while a USB memory stick copy has appeared.

They could just ask Lagarde for a new copy or to verify the copy they have, but no one has done that.  That should tell you something.

Fri, 04/05/2013 - 11:33 | 3412939 MsCreant
MsCreant's picture

Or did they hit a BRIC wall?

Fri, 04/05/2013 - 11:35 | 3412944 css1971
css1971's picture

Where I come from this is called "Perverting the course of Justice" and is illegal in and of itself. Maximum sentence being life.


Fri, 04/05/2013 - 11:34 | 3412948 The Abstraction...
The Abstraction of Justice's picture

Anyone wiping data pertaining to 'financial crimes against humanity' is guilty of conspiracy to said crime and should be decapitated when Madame Guillotine is on tour.

Fri, 04/05/2013 - 11:35 | 3412950 sunnyside
sunnyside's picture

And Martha Stewart spent time in prison.

Fri, 04/05/2013 - 11:38 | 3412967 Peter Pan
Peter Pan's picture

She was too small to let her get away.

Fri, 04/05/2013 - 11:38 | 3412963 thewayitis
thewayitis's picture


  The ELite can do NO wrong .....

Fri, 04/05/2013 - 11:41 | 3412977 Peter Pan
Peter Pan's picture

The elite can do anything they like until members of their own elite feel they have gone too far and are jeoardising the rest of them. Then they get taken care of.

Fri, 04/05/2013 - 11:39 | 3412971 Fox-Scully
Fox-Scully's picture

Not to worry--the US government has a copy of all transactions.

Fri, 04/05/2013 - 13:22 | 3413414 Tursas
Tursas's picture

Of course they do have the copies - but would the US government really incriminate itself because of the tiny Cyprus?

Note that according to NY Court Jamie Dimon never manipulated the silver markets because he had no motive.  Could he have done it? Court said: yes, he can do that at any time - but as we the Court have not found any motive he has not done it!  

Fri, 04/05/2013 - 11:57 | 3412974 Debugas
Debugas's picture

do they store deposits accounts the same way ?

Fri, 04/05/2013 - 11:45 | 3412976 Anomalous Howard
Anomalous Howard's picture

What?  You mean it's NOT zee BIS puppet-masters wiping with the savings of ordinary Cypriots??

Looks like a looooonnngggg chain of possible scapegoats and diversions has been set up.

Fri, 04/05/2013 - 11:42 | 3412984 mdtrader
mdtrader's picture

EUR/USD back to 1.3030 Cyprus bail-in euphoria high. Are people rushing to get into euros before the next confiscation lol.

Fri, 04/05/2013 - 11:45 | 3412998 Yen Cross
Yen Cross's picture

     You can't make this shite up. +1

Fri, 04/05/2013 - 11:45 | 3412993 the black arrow
the black arrow's picture

To hide financial crimes in the USSA they take down WTC bldg 7
In Cyprus they wipe hard drive. Hmmmmk.......

Fri, 04/05/2013 - 13:13 | 3413387 Tursas
Tursas's picture

On relative scale this is the same issue!

Fri, 04/05/2013 - 11:49 | 3413029 Seize Mars
Seize Mars's picture

If the investigation is stymied by an amateur attempt at file deletion on the local machine, then there are two possible situations. Either the investigators are fools, or they think we are.

Fri, 04/05/2013 - 11:49 | 3413033 Diplodicus Rex
Diplodicus Rex's picture

None of this story holds any water. None of the files mentioned are stored on the local hard drive of a PC. They are all accessed by SQL server and client. The 'wiping' software on the local hard drive would not wipe the server database. Furthermore, the database has multiple redundancy and backups. This story is cannon-fodder for the masses.

Fri, 04/05/2013 - 12:31 | 3413234 Urban Redneck
Urban Redneck's picture

We don't actually know how their laptops or desktops were configured or even how they were supposed to be configured.  They only messages of mine that would have ever been found on a bank SQL backup would have been those at arrived exactly during a backup and between the 3 minute sweeps the local .PST insurance policy connected my email client.  "Someone" could get the same data off a RIM wireless server, or off the client or server of the other party(ies) to a given message, assuming the message wasn't encrypted.

But if they didn't even give the "investigators" authority to issues subpoena locally then why should those investigators be expected to actually find anything...

The question is what now, a proper investigation and proper tools, or does it all swept under the carpet where it hopefully forgotten?

Fri, 04/05/2013 - 11:50 | 3413040 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Reminder:  If you are suspected of owning one bit coin or having a single encrypted email and you "wipe" your drive, you will be arrested as a domestic terrorist and held in solitary confinement until you plead guilty to charges you are not allowed to know. 

Man, I gotta become one of the elite before it's too late.

Fri, 04/05/2013 - 11:58 | 3413076 Vince Clortho
Vince Clortho's picture

Drat!  What a crummy, rotten break.  We are left with no choice but to assume that the owners of said hard drives are completely innocent of wrong-doing.

Obviously no one in Cyprus could be aware of a sophisticated technique called "backing up your data".

If only there had been a few computer geeks on that troubled island...

Fri, 04/05/2013 - 12:23 | 3413185 Papasmurf
Papasmurf's picture

If only there had been a few computer Greeks on that troubled island...  Someone to find the backdoor.

Fri, 04/05/2013 - 12:00 | 3413084 Rusty Trombone
Rusty Trombone's picture

So ...when do the assassinations start?  I mean I am truuuly surprised we haven't see these fuckers melons start exploding in lovely clouds of pink mist yet.

Fri, 04/05/2013 - 12:31 | 3413228 Monedas
Monedas's picture

Up arrow for imagery !

Fri, 04/05/2013 - 12:03 | 3413107 Ljoot
Ljoot's picture

Banksters can wipe my ass, shithole lickers they are.


Fri, 04/05/2013 - 12:11 | 3413128 davepowers
davepowers's picture

Is obstruction of justice a crime in Cyprus?

Fri, 04/05/2013 - 12:21 | 3413174 stock trout
stock trout's picture

What are some good software wiping companies I can invest in? 

Fri, 04/05/2013 - 12:24 | 3413189 YouAreBliss
YouAreBliss's picture

At least there was an "investigation" - Banksters in this country didn't even have to go to the trouble of wiping their drives and e-mail files...just the chore of jaunting over to the HR department to find out when their Fed and TARP financed $30 million bonuses would be wired.

Fri, 04/05/2013 - 12:25 | 3413197 Monedas
Monedas's picture

That bank hijacked itself ! Do the German people have to bail out this kind of crap, Herr Murkle ?

Fri, 04/05/2013 - 12:36 | 3413261 Turin Turambar
Turin Turambar's picture

I'm okay with wiping.  Unfortunately, it was misdirected in this case.  Things will improve if it's the bankers who are wiped in the future.

Fri, 04/05/2013 - 12:39 | 3413266 BattlegroundEur...
BattlegroundEurope2011's picture

Those executives delete their Hard drives then the Cypriot PPl should "delete" these executives. Problem solved.

Fri, 04/05/2013 - 12:45 | 3413288 Satan
Satan's picture

Long paper shredders.

Fri, 04/05/2013 - 12:56 | 3413333 Paracelsus
Paracelsus's picture

  During the Iran/Contra Congress stuff (Ollie North), US AG Edwin Meese took three days to walk down the corridor and seal Lt.Col. Oliver Norths' office to preserve evidence for the enquiry.

Of course there wasn't any shredding going on in there.

"Everyone okay in there?".

" 'sallright!"

"Ya sure about that?".

" Yup,'sallright!".

"Ya sure you are okay?".

"Piss off, we're busy shredding stuff...."

Fri, 04/05/2013 - 14:05 | 3413557 paint it red ca...
paint it red call it hell's picture

I have a retired career military/gubermunt neighbor that proudly claims to have worked with ollie out of utah during those operations.

Can you guess the kind of neighbor he makes??

Fri, 04/05/2013 - 13:00 | 3413347 paint it red ca...
paint it red call it hell's picture

Water boarding is OK. Right?????

Fri, 04/05/2013 - 13:10 | 3413371 Tursas
Tursas's picture

Use olive oil and fire and start roasting!  It has worked for millenniums!


Fri, 04/05/2013 - 13:06 | 3413362 SmittyinLA
SmittyinLA's picture

Wouldn't if be funny if we revoked their printing authority and forced TPTB to use their own cash?  

Fri, 04/05/2013 - 14:34 | 3413649 Lewshine
Lewshine's picture

I recently saw a Fox news correspondent do an interview with her first cousin, who is a resident of Cyprus. In the interview the commentator asked her cousin how much money she reckoned to lose because of this fiasco. Her cousin responded; "Counting all family members, we have lost about 3 million euro". The cousin's next remark was the most amazing I have ever heard, she followed: "...But, we understand that savings accounts come with risk...We are happy just to have access to what's left".  Any questions on why the bangsters did this - They were allowed, and still are!

Fri, 04/05/2013 - 14:39 | 3413663 NoWayJose
NoWayJose's picture

Grab the servers and any backup tapes. Most email servers store the emails themselves too!

Fri, 04/05/2013 - 14:54 | 3413713 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Squid ink data removal services apparently work.

Fri, 04/05/2013 - 15:47 | 3413941 q99x2
q99x2's picture

That's why the US of A has the NSA. When the decision is made to bring in the crooks that are running things now we'll have enough on them to send them and their families to Sing Sing forever.

Fri, 04/05/2013 - 16:11 | 3414042 logicalman
logicalman's picture

I'd bet NSA - CIA or some other alphabet soup gang have copies to use for nefarious purposes. Great blackmail possibilities here.

Fri, 04/05/2013 - 16:29 | 3414135 earleflorida
earleflorida's picture

FWIW Dept:

The pieces are finally coming together regarding the solidary 'templete' for Cyprus, and the 'Levant Basin', with an one eye on Lebanon and a strong arm on Syria?

Demarcation and America backing the Rebels [ al Qaeda?]?

"Cyprus seeks to speed up EEZ demarcation"

"Can Lebanon Survive the Syrian Crisis" [Hezbollah?]

Note:  Back in early 2012 the blueprint for confiscation by the WB, IMF, Jerusalem/Israel, Troika, EU, and UN/Amerika already had a jack`boot readying their throats!


thankyou Tyler

Fri, 04/05/2013 - 16:39 | 3414192 Joebloinvestor
Joebloinvestor's picture

They will declare they didn't do it, it is a conspiricy against them.

Rulebook #1 from "French Denial 101".

The EU will show they are serious (actually Cyprus should!) when they march these two into the center square and put a bullet in each of them.

As long as Europeans put up with this shit it is only gonna get worse.

Fri, 04/05/2013 - 21:35 | 3415162 Izznogood
Izznogood's picture

Since 2008 Cyprus was run by (from Wikipedia)


The Progressive Party of Working People communist party in Cyprus. AKEL has successfully put into practice several socialist measures to support economic welfare of Cypriots during the late-2000s financial crisis such as increasing low pensions by 30% and strengthening the welfare benefits given to university students to €12 million per year. Overall, €1.2 billion were spent on welfare benefits during the first three years of AKEL in power, with various improvements made in social welfare provision.

I am sure the Cypriots are thankful for all the socialist measures the party has taken over the years ...

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