NEWS

Former bank executives charged

TAGS: Crime, Justice, Banking

Greece’s corruption prosecutor has brought criminal charges against 30 former executives of the now defunct Agricultural Bank of Greece for approving loans over a 10-year period to the ATTIKAT construction company and a private citizen who did not meet the necessary requirements.

The cost incurred by the bank is estimated at 80 million euros. The loans were granted over a period from April 2000 until June 2010.

According to the prosecutor’s investigation, and a report by the Bank of Greece, the loans were given without the recipients providing the necessary collateral and guarantees. The overall loan activities of the bank are being scrutinized as part of an ongoing investigation.

Online