Former EIB Chief Werner Hoyer Under Investigation in Corruption Inquiry

Werner Hoyer, the former chief of the European Investment Bank (EIB), has confirmed he is one of the two former officials being investigated by prosecutors in a corruption inquiry. Hoyer denies any wrongdoing.

The European Public Prosecutors Office (EPPO) announced this morning that the EIB had lifted immunity for two of its former officials. Following this, it has been revealed that police in Germany and Luxembourg have seized material related to the investigation and searched Hoyer’s home in recent months.

Through his lawyer, Hoyer has stated that the probe focuses on the departure of an EIB employee and the compensation paid in that context. Hoyer, who signed off on the exit package in accordance with EIB rules, is caught up in the investigation despite not being part of the negotiations, according to his legal team.

“The allegations against me are downright absurd and unfounded,” Hoyer said in an emailed statement. “I now expect them to be fully investigated and clarified and ask the EIB to co-operate fully with the EPPO. I am also co-operating fully with the EPPO and demand a full clarification of the facts from there.”

Hoyer’s lawyer, Nikolaos Gazeas, added, “We are calmly awaiting the investigations. They will prove that the criminal allegations against my client are unfounded and downright absurd. This is also why my client has expressly requested that his immunity and that of the EIB premises be waived so that this allegation can be clarified.”

Earlier today, the EIB announced it has accepted the EPPO’s request to lift the immunity of two former employees involved in a fraud investigation. Both officials are suspected of corruption and misappropriation of EU funds.

The Luxembourg-based bank stated, “The move also allows the EPPO to search the bank’s headquarters and take away relevant documentation.”

The EPPO’s ongoing investigation involves suspicions of corruption, abuse of influence, and the misappropriation of EU funds, as reported by the European Anti-Fraud Office (OLAF). According to the prosecution service, “In line with their legal obligation under the Union law (Protocol 7 on the Privileges and Immunities of the EU), as specified by the Court of Justice of the European Union, the EIB has granted the lifting of the immunity of two former employees, which will allow the diligent and effective pursuit of the EPPO’s investigation.”

An official stated, “In strict compliance with the principles of the rule of law and the rights guaranteed in particular by the Charter of Fundamental Rights of the EU, this will make it possible to gather all the evidence needed, whether inculpatory or exculpatory, to shed full light on the facts under investigation.”

The EPPO and EIB, both located in Luxembourg, are just 650 meters apart, with the EPPO based on Avenue John F Kennedy and the EIB on Rue Albert Wehrer.

No further details of the case are being disclosed to avoid jeopardizing the investigation’s outcome.

By fLEXI tEAM