Thursday Jan 29, 2015 Search
Weather | Athens
14o C
8o 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 Bank’s 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)  
Venizelos to stay on as PASOK chief until May
New Greek finance minister to visit UK, France, Italy
New defense minister to visit Cyprus
Berlin ´less concerned´ about Greek position on Russia after talks
Stocks recover after shocking three-day slide
Morgan Stanley’s estimate that there is still value in the local market, and Wednesday’s excessive slide, resulted in stock prices posting a notable correction on Thursday. The Athens Exchan...
Finance Ministry says Dijsselbloem visit will kick off debt talks
This week's visit to Athens by the head of the eurozone finance ministers' group will mark the start of Greece's negotiations on changing the conditions of its international bailout accord, ...
Inside Business
SOCCER
PAOK strikes deal with Portugal´s Ricardo Costa
PAOK announced on Tuesday its agreement with Portuguese international defender Ricardo Costa. The Thessaloniki club added that the player is expected on Wednesday to undergo a medical test a...
BASKETBALL
Basket League favorites survive challenges on the road
PAOK consolidated its position in the top three of the Basket League with a triumph at AGO Rethymnou on Saturday, while Olympiakos and Panathinaikos emerged victorious from their tough away ...
Inside Sports
COMMENTARY
Kotzias, Dugin and the EU
“It has always been Golden Dawn’s position that Greece should not be a part of EU and US sanctions against Russia. Our national interests and geopolitical facts dictate this stance.” This wa...
COMMENTARY
New Democracy’s challenges
There is a good deal of unease in New Democracy, and not just because of the defeat it suffered in Sunday’s polls. That had been expected, despite the optimistic and combatant messages from ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Stocks recover after shocking three-day slide
2. Venizelos to stay on as PASOK chief until May
3. New Greek finance minister to visit UK, France, Italy
4. New defense minister to visit Cyprus
5. Berlin ´less concerned´ about Greek position on Russia after talks
6. Greece says seeking to ´prevent rift´ between EU and Russia
more news
Today
This Week
1. Greece wants a debt break, but what about its poorer neighbors?
2. $11 billion wiped from Greek banks on nationalization threat
3. Investors turn on Tsipras’s campaign to end austerity in Greece
4. Varoufakis says Russia row not about sanctions, but proper consultation
5. Greek banks rebound as gov't cites inexperience for remarks
6. Schulz warns Tsipras against straying from stance against Russia, ahead of Athens meeting
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. Greeks fork out nearly 5 pct of their incomes on telecom services
5. Greek Elections 2015: The day after | LIVE
6. Poll shows SYRIZA leading ND by 4 pct
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.