VDI Law Firm successfully secured a court decision against a Greek bank in a case involving organized bank fraud.
The case concerned financial transactions executed to a bank account that did not belong to the legitimate beneficiary, as a result of fraudulent activity. Although the Greek bank had confirmed the transaction details to a foreign financial institution, it was later revealed that the transferred funds never reached the actual beneficiary.
The court partially upheld our claim, finding that the bank caused damage to our client by executing the transfers in breach of its duties of care and information. In particular, the court held that the bank provided inaccurate information regarding the identity of the beneficiary, thereby failing to comply with its legal obligations.
This decision is particularly significant, as establishing the liability of a financial institution in cases of this nature is among the most demanding and complex areas of litigation. The result was achieved through the experience and consistent litigation strategy of the Litigation Department of VDI Law Firm