The former head of the European Investment Bank (EIB), Werner Hoyer, is being investigated for corruption, with the German economist saying he is “cooperating unreservedly with the European Prosecutor’s Office to fully clarify the facts.” The European Prosecutor’s Office confirmed in a statement issued on Monday that an investigation is underway into “two individuals suspected of involvement in corruption, influence peddling and embezzlement.” The investigation, which began this year on an unspecified date, included lifting the immunity of two European Investment Bank officials whose identities were not revealed, but the first information published by various media outlets in Belgium, Luxembourg, Great Britain and Germany indicated that it was Hoyer and a former employee of The bank is headquartered in Luxembourg.
The case concerns Hoyer’s authorization to pay compensation for the termination of the anonymous employee’s contract, as revealed by the former president’s lawyer, Nikolaos Gazias, who classified the accusations against his client as “unfounded and completely ridiculous.”
Hoyer (72 years old) headed the European Investment Bank between 2012 and 2023, and was previously a minister representing the liberal Free Democrats party in the coalition governments led by the Christian Democrats Angela Merkel and Helmut Kohl.
The European Investment Bank, founded in 1958 and headed by Spaniard Nadia Calviño, finances projects within the framework of the European Union’s strategic objectives and is the largest multilateral institution financing development projects.
The European Prosecutor’s Office, created in 2021, investigates fraud, corruption and money laundering crimes related to the financial interests of the European Union.
Romanian Cudrota Kovesi heads the European Public Prosecutor’s Office based in Luxembourg.
