A judicial council rejected a petition filed by high-profile business magnate Lavrentis Lavrentiadis requesting to be allowed to travel abroad. The judicial council upheld a prior decision barring Lavrentiadis from leaving the country pending trial in the case of the unsecured loans issued by Lavrentiadis-controlled Proton Bank. A total of 28 individuals will stand trial on five felony charges in relation with the mismanagement of Proton Bank and loans of 701 million euros allegedly made out to companies owned by Lavrentiadis, who held a controlling share in the bank. The charges include forming a criminal organisation, defrauding the state, embezzlement, legalizing income from illegal activity (money-laundering) and breach of faith. (AMNA)
Read more on this case by clicking on these links:
Swiss Authorities Freeze Bank Accounts of Lavrentis Lavrentiadis
SPECIAL REPORT - Controversial Sale Of Planes Tied To Money Laundering
Venizelos Cornered by Greek Journalist on Proton Bank Scandal (VIDEO)