After release, Lavrentiadis faces additional charges; Pallis also freed

Businessman Lavrentis Lavrentiadis, who has been in Korydallos Prison for a year-and-a-half pending trial on charges of embezzlement, was granted release on Tuesday on the condition that he post 500,000 euros in bail and report regularly to his local police station.

Lavrentiadis, who had appealed for release on several occasions due to health problems, completed the maximum of 18 months in pretrial custody last month, but a warrant for his arrest on additional charges relating to the murder of another businessman had foreseen an additional term in pretrial custody.

However, a council of misdemeanors court judges approved his appeal for conditional release.

The 54-year-old former majority shareholder in Proton Bank is facing charges of running a criminal organization, money laundering, fraud and breach of faith in connection with the alleged embezzlement of hundreds of millions of euros from the bank.

Meanwhile, businessman Anastasios Pallis, who was implicated in alleged embezzlement at First Business Bank and is an ex-associate of the bank’s main shareholder shipowner Victor Restis, was on Tuesday granted conditional release.

Pallis, in whose home police found weapons, Nazi paraphernalia, Hitler photographs and military uniforms (photo) in October, had turned himself in to the authorities in December.