Tuesday November 25, 2014 Search
Weather | Athens
14o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Ex-associate sheds light on tycoon

 Former chemicals firm owner reveals how Lavrentiadis built empire with bad loans

Testimony given to an investigating magistrate by Constantinos Ballis, one of several former associates of Proton Banks one-time major shareholder Lavrentis Lavrentiadis, has reportedly shed light on how the latter built his business empire by transferring hundreds of millions of euros in loans to companies linked to his interests.

Ballis, the former owner of a chemicals firm based in Thessaloniki, submitted a 10-page deposition to magistrate Ioanna Hatzaki, in which he allegedly claims to have been convinced by Lavrentiadis into selling his firm for 5.5 million euros.

In an attempt to convince the magistrate that he had no idea that the sale or merging of companies had been aimed at securing illegal loans for Lavrentiadis, Ballis reportedly claimed to have only realized that he had been duped after the Lavrentiadis scandal broke in 2011.

The former chemicals firm owner reportedly claimed to have been unaware of an earlier deposition attributed to him that supported the interests of Lavrentidis. Ballis also allegedly blamed several one-time close associates of Lavrentiadis including Yiannis Papavassiliou, chief financial officer at Alapis SA, who was arrested over the weekend on a warrant issued by the prosecutor investigating the Proton Bank embezzlement case.

Papavassileiou is expected to be summoned in the coming days to answer to charges of fraud and money laundering.

Lavrentiadis and several other key suspects in the embezzlement case are currently in custody.

ekathimerini.com , Monday February 4, 2013 (20:57)  
Govt plays down delay of capital revamp projects
Papandreou proposal sparks war of words inside PASOK
Crucial talks with troika in Paris
Biden briefs Anastasiades about talks in Istanbul
All three bids accepted in regional airport tender
All three consortiums interested in the privatization of Greeces regional airports have made it to the second stage of the tender, which concerns binding bids, state sell-off fund TAIPED de...
DEPA facing 100-mln-euro fine to Gazprom
Public Gas Corporation (DEPA) will have to pay a fine of over 100 million euros to Russian energy giant Gazprom in compliance with the take-or-pay clause in the agreement between the two c...
Inside Business
SOCCER
EPO ends soccer suspension, Super League resumes
Soccer action will resume this weekend after the Super League convened on Monday, elected a new president and alternate president and sent a letter to the soccer federation that assures it t...
BASKETBALL
Olympiakos ends PAOKs unbeaten run in Basket League
Olympiakos put an end to PAOKs unbeaten run in the Basket League with an emphatic win at the Peace and Friendship Stadium, leaving Panathinaikos as the only team with a perfect record so fa...
Inside Sports
COMMENTARY
Extremism from a bygone era
There are times when we seem to be overcome by self-destructive madness. I hear various commentators and politicians speaking in extreme terms of a junta, of defections, gallows, collaborato...
EDITORIAL
No call for more games
Psychological warfare has been a part of the negotiations between the troika and Athens from the very start of the crisis. But the situation is much different now and troika decision-makers ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. EPO ends soccer suspension, Super League resumes
2. All three bids accepted in regional airport tender
3. DEPA facing 100-mln-euro fine to Gazprom
4. Manufacturing start made easier
5. Fewer shut shops in Athens city center this year
6. BoG plans single bad bank
more news
Today
This Week
1. Scientists expand excavation of ancient Amphipolis
2. Greek officials to meek troika chiefs in Paris to break review stalemate
3. Police seek to name man who opened fire with AK47 at Piraeus bar
4. EU said to plan 21 billion-euro risk-sharing fund for investment
5. Greece to scrap need for permits in some 900 professions
6. Biden informs Anastasiades about content of talks with Erdogan
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Biden heads to Istanbul amid tension over Cyprus EEZ violation
3. Anti-junta uprising anniversary to be marked amid tight security
4. Every age has its collaborators
5. Give Greece a chance
6. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.