Greek Shipping Tycoon Faces New Charges

Remanded in custody last week on charges of embezzlement and money laundering, well known shipping tycoon Victor Restis is expected to face a magistrate in Athens on Thursday in order to respond to questions about a second loan from First Business Bank, said to be worth some 6 million Euros, that allegedly ended up in accounts belonging to the entrepreneur’s companies.

Last week, Restis denied he was the recipient of a 5.8-million Euro loan granted last year by FBB, where he was chairman.

The 45-year-old businessman said that the money ended up in the account of an associate, who, according to reports, is also being sought by authorities for questioning.