Authorities Seize Half Of Karaiskaki Stadium Against Claims on Proton Bank

Karaiskakis Stadium in Piraeus  (credit: Wikipedia)

When you do the crime, you have to do the time, or at least pay the price! According to reports, the examining magistrate assigned the case against former banker, businessman, Lavrentis Lavrentiadis ordered the provisional seizure of a 50 percent share of Karaiskaki Stadium, which is the home base of the Piraeus-based premier-league Olympiakos soccer team.

A report from the state news agency said that Magistrate Ioanna Hatzaki agreed with the proposal of first-instance court public prosecutor Ioannis Dragatsis, who asked for the seizure of the share in the stadium owned by Lavrentiadis, the main suspect in the case involving bad loans made by Proton Bank, and businessman Antonis Rogopoulos who is also implicated in the affair.amna

The decision was made in order that the claims of the former bank's shareholders, who suffered losses as a result of the bad loans amounting to 700 million Euros given by Proton Bank to enterprises controlled by its CEO Lavrentiadis.