NEWS

Four bank execs nabbed as usury gang members

TAGS: Crime

A money-lending gang masterminded by a 63-year-old and including four bank executives, has been unraveled by Greek police, reports said Thursday.

According to the investigation conducted by the Maroussi police department in northern Athens, the gang would cash post-dated checks in exchange for interest ranging from 5 to 20 percent. Authorities seized checks with a nominal value of more than 1.5 million euros.

At a press conference, police said the 63-year-old had been a loan shark for more than 30 years, with an expertise in cashing in post-dated checks.

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