Represents one of the largest fines ever doled out by CySEC to an individual.

We’ve become somewhat used to the multi-million dollar fines for wrongdoing handed out by US regulator CFTC, so an EUR 100,000 ($135,000) fine doesn’t seem too weighty. But it certainly is, when handed out by Cyprus financial regulator CySEC.

CySEC announced today an EUR 100,000 administrative fine against one of the country’s leading banking figures, Efthimios Bouloutas. Mr. Bouloutas acted as CEO of Laiki Bank, once one of Cyprus’ two largest commercial banks, as well as CEO of Marfin Holdings, which had acquired control of Laiki in 2006.

The fines related to misstatements about Marfin and Laiki’s financial situation made by Mr. Bouloutas in 2011. Specifically, Mr. Bouloutas stated before CySEC that Marfin was healthy and not in need of funds. CySEC later decided that Mr. Bouloutas’ statement was ‘diametrically opposed to the reality’.

Laiki, of course, was one of the banks which eventually went belly-up and was (partially) bailed out by the EU earlier this year. Laiki’s assets and liabilities were absorbed by the Bank of Cyprus, with depositors above EUR 100,000 being haircutted on their accounts.

To see the CySEC press release on Mr. Bouloutas’ fine click here (pdf, Greek).

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