BUSINESS

Jumbo says has no connection with former executive's alleged illegal activities

TAGS: Business

Greece’s biggest toy retailer Jumbo said on Wednesday that its deputy vice-chairman has resigned and that the retailer has no knowledge or involvement in alleged irregular activities of the executive in a private capacity.

A Greek news website reported on Tuesday that Evangelos Papaevangelou had set up a real estate company which had allegedly a role in facilitating Chinese to buy Greek real estate, circumventing capital restrictions in their home country.

Jumbo said it was not linked to Papaevangelou’s personal business activities in the real estate sector. [Reuters]

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