O C V ΓΡΑΦΕΙ ΤΗΝ ΙΣΤΟΡΙΑ Bringing the news ΤΟΥ ΕΛΛΗΝΙΣΜΟΥ to generations of ΑΠΟ ΤΟ 1915 The National Herald Greek Americans A WEEKLY GREEK AMERICAN PUBLICATION c v www.thenationalherald.com VOL. 11, ISSUE 530 December 8, 2007 $1.00 GREECE: 1.75 EURO Was It A Back-Stabbing 2 More Alleged Victims Come Forward Against Katinas Friend, Or Was Zoe Cruz New Court Petition Details Alleged Cover- Her Own Worst Enemy? Up by Church Officials By Evan C. Lambrou life to the bulge bracket investment By Theodore Kalmoukos Special to The National Herald bank, Mrs. Cruz, the most powerful Special to the National Herald woman on Wall Street, was out of a NEW YORK – Before being ousted job. She joins a growing list of Wall BOSTON, Mass. – Two more al- at the end of last week, Greek-born Street’s top names who have been leged victims of former priest Zoe Cruz was considered a power- fired since the summer, including Nicholas Katinas have come for- house on Wall Street. Merrill Lynch’s Stan O’Neal and Cit- ward, according to an amended le- Initially tipped as a possible suc- igroup’s Charles O. Prince III, for gal action which has already been cessor for the top job at Morgan presiding over firms which became filed on behalf of two other alleged Stanley by the same man who basi- mired in the sub-prime mortgage victims. The fourth alleged victim is cally dumped her, Mrs. Cruz, 52, tar pit. from of Milwaukee, Wisconsin and had just been ranked fourth on the Her departure came after Mor- is referred to as John Doe IV. He has Wall Street Journal’s list of “50 gan Stanley signaled potential apparently “attempted suicide sev- Women to Watch.” fourth quarter losses, which one eral times,” according to the peti- Now, she is the latest victim of analyst estimated could swell by an tion. the credit crisis rocking the finan- additional $1.2 billion by the time The complaint also alleges Rev. cial sector. She was unexpectedly Morgan Stanley announces its re- Nicholas Triantafilou, vicar general booted as co-president of Morgan sults in mid-December. Those loss- of the Archdiocese during the time Stanley last Thursday, November es followed a series of hits totaling of the alleged sexual abuse against 29. $2.5 billion in the third quarter, minors, and currently president of Mrs. Cruz, a married mother of and included $940 million of mark- Hellenic College/Holy Cross Greek three, left the building almost im- downs for leveraged loans; a $1 bil- Orthodox School of Theology in mediately after being informed of lion revenue decline reflecting Brookline, “covered up” complaints her departure – or “retirement” – mortgage assets; and a $480 mil- about Katinas, which had been by Morgan Stanley Chairman & lion loss in quantitative stock trad- brought to his attention. Father Tri- CEO John J. Mack. ing. antafilou had many meetings with That Mr. Mack, 63, gave her the Mrs. Cruz oversaw the firm’s in- the parents and the boy, and appar- bad news made sense. He was her stitutional securities business, in- ently convinced them that their boss. But he was also supposedly vestment banking and retail bro- son, who was 11 years of age at the her friend, colleague and chief sup- kerage operations, as well as its risk time, had misunderstood Mr. Kati- porter for much of her working life, management division and trading nas’ actions and behavior. though being friends with the boss arms, and was sitting on more than Similar allegations of a cover-up was clearly not enough to save Mrs. $60 million in restricted stock, plus had been raised in the petition Cruz from the sub-prime chop. over $5 million in stock options, be- against Metropolitans Iakovos of As recently as last April at the fore being forced out. George Paraskevaides, co-founder of the J&P construction colossus and great philanthropist, passed Chicago and Isaiah of Denver. The company’s annual meeting, Mr. Just last year, she was ranked away on Wednesday, December 4, 2007 in The London Clinic. He was 91. latter was serving as chancellor of Mack noted the company’s 2006 re- 10th among FORBES magazine’s the Chicago Diocese at the time. sults, and said that “strong perfor- “100 Most Powerful Women,” and Mr. Katinas was accused of sexu- mance is in large part due to Zoe 16th in 2005. FORTUNE magazine al misconduct with minors earlier Cruz and the institutional securities ranked her 1st among the world’s this year, and was defrocked by the group, which manages a tremen- highest paid women, listing her to- Philanthropist G. Paraskevaides Dies Ecumenical Patriarchate of Con- dous amount of risk in a very smart tal compensation at $30 million in stantinople this past summer, upon and disciplined way.” 2006. The Financial Times had By Neofytos Kyriakou lan Polytechnic, Italy. The rags-to- tion equipment and later becoming the recommendation of the Holy But it was Mr. Mack who, at a written of her that she is “known as Special to The National Herald riches real-life legend of the civil engineers and contractors for Eparchial Synod of the Archdio- scheduled board meeting earlier the ‘Cruz Missile’ because of her founders of one of the leading con- major projects under British-ruled cese. The lawsuit is also lodged that morning, told the company’s ability to home in on her target and George Paraskevaides, 91, co- struction and development compa- Cyprus and other territories. against the Archdiocese, the Me- board of directors he wanted her to pursue it unswervingly.” founder of the J&P construction nies in the world started when By 1961, the two partners estab- tropolis of Denver and Holy Trinity go. Not for nothing is he known as Mrs. Cruz graduated from Har- colossus and great philanthropist, George Paraskevaides, fresh out of lished Joannou & Paraskevaides Church in Dallas, Texas where Mr. “Mack the Knife.” vard University with a bachelor’s died on Wednesday, December 5, university after World War II, part- (Overseas) Ltd. based in London Katinas served as head priest for 28 With friends like these, who degree in Literature in 1977. She 2007 at the London Clinic. nered with Stelios Ioannou to estab- that soon became one of the world's years. The parish recently sent a needs enemies? That sentiment, or received an MBA from Harvard Mr. Paraskevaides was born in lish Joannou & Paraskevaides. To- leading construction enterprises letter soliciting its parishioners for something like it, was probably Business School in 1982, and be- Athens in 1916, but soon after his gether they embarked on a historic with activities in Europe, the Middle $250,000 in extra funds to help de- playing through Mrs. Cruz’s mind gan her career with Morgan Stan- birth he moved with his family to journey that would take six decades East, Asia and Africa. The compa- fray legal fees for defending the as she stormed out of Morgan Stan- ley’s investment banking division Cyprus, where he excelled at the and span across the Middle East, ny's activities presently cover the parish. The letter stated, “The ley’s Midtown offices. Pancyprian Gymnasium in Nicosia North Africa, Cyprus and the Balka- Having devoted 25 years of her Continued on page 5 and studied architecture at the Mi- ns, starting with renting construc- Continued on page 11 Continued on page 4 Outgoing Consul General Jim Gianopulos Wows Thessaloniki Film Festival Catherine Boura Reflects on By Dan Georgakas Special to The National Herald Her 4 Years Serving in NYC A highlight of the 48th Thessa- loniki Film Festival was the involve- ment of Jim Gianopulos, chairman By Stavros Marmarinos Bouras said. of FOX Entertainment. Mr. Gianop- Special to the National Herald According to Mrs. Bouras, the ulos, one of the most powerful stu- successful games of 2004 improved dio executives in Hollywood, who NEW YORK – The Hellene Consul Greek self-esteem, brought the arrived during the climatic final General of New York Catherine country one step closer to the Inter- weekend to participate in a series Boura referred to the importance of national community and brought of formal and informal events. With unity, coordination and coopera- the world closer to Greek civiliza- every appearance, the affable Mr. tion of all forces of Hellenism in the tion and history. She also talked Gianopulos dispatched the nega- U.S. for the constant upgrading of about other important visits by tive stereotypes of Hollywood Hellenic Education. Greek officials to the United States. moguls which are pervasive in “Hellenism can and should sup- “Which confirm in many ways Greek film circles. port the traditional institutions that the Greek interest about Hellenism The most substantive Gianopu- helped it in all its steps in this coun- in America and strengthen the link los event was a two-hour master try: family, school and church are between Greece and Greek Ameri- class given at the John Cassavetes interrelated with the preservation cans,” she said. Theater. It was attended mainly by of the Hellenic education and lega- According to Mrs. Bouras, she Greek film critics, Greek film stu- cy,” she said. and her colleagues always strived dents, and the international press. During an exclusive interview for excellence in order to provide Rather than a fast-talking, grim with TNH last week, a few days be- the best service possible to Greek business executive who knows fore her departure back to Athens and Greek American citizens. more about the bottom line than after a four year assignment in New When asked about her personal ex- culture, the casually dressed Mr.