Thursday October 30, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Bid to recoup cash lost through graft

Legislation aimed at recouping millions of euros deprived from the state through graft and corruption, by allowing those who return stolen funds to be spared prison time, is to be submitted in Parliament next week.

The measures, drafted by Justice Minister Haralambos Athanasiou, aim to raise some 2.5 billion euros in much-needed revenue.

According to the proposed provisions, anyone charged with tax evasion, money laundering, submitting inaccurate source of wealth (“pothen esches”) declarations, breach of faith or embezzlement at the expense of the state will be able to secure lenient treatment if they return the money. And the quicker they return it, the better deal they will get. For instance, if all the money is returned before the suspect faces a magistrate, they will get a three-year prison sentence instead of a life term. If the cash is given back before the case goes to trial, a life term will become seven years, or 10 years if the money is given back by the time the case goes to appeal. If a suspect is cleared, the money will be returned to them.

One key provision allows prosecutors to offer suspects who are charged with misdemeanors or crimes carrying a maximum punishment of 10 years the option of paying off his or her sentence. If a “deal” is reached between the prosecutor and defendant on the size of the sum that must be paid to avoid jail time, judicial procedures will be stopped.

A similar system is in operation in other European countries. In Germany, of 4.5 million cases where suspects were given the option of paying to evade jail time, only 700,000 ended up going to trial. Enforcing such a system in Greece could ease the burden on courts, where more than a million cases are pending.

Other provisions in the bill allow judicial authorities the right to immediately seize and liquidate the assets of suspects charged with stealing money from the state.

In a bid to show that authorities are serious about leading by example, ministers, MPs, mayors and regional governors will not be eligible for the special treatment outlined in the bill.

In a related development, Finance Minister Yannis Stournaras said he expected “results soon” from investigations into the Lagarde list of Greeks with Swiss bank accounts and other lists being probed for possible tax evasion.

ekathimerini.com , Friday February 14, 2014 (20:47)  
In Athens, NATO chief sees spike in Russian flights on border
Germany denies backing proposal for Greece to exit aid program
Boy, 13, dies after falling from fifth floor in Thessaloniki
Civil servants to be investigated for transferring money abroad
Italy, Greece banks lead Europe decliners amid capital concerns
Italian and Greek banks led stock declines among the region’s lenders after European Banking Authority Chairman Andrea Enria said stress tests completed last week aren’t foolproof and more m...
European stocks tumble as banks decline after Enria’s comments
European stocks retreated, erasing earlier gains, as banks from peripheral euro-area nations tumbled. U.S. index futures and Asian shares also declined. The Stoxx Europe 600 Index fell 0.7 p...
Inside Business
SOCCER
Greece drops Samaras for Euro 2016 qualifier
Greece coach Claudio Ranieri has dropped striker Georgios Samaras from the national team after a dismal start to European Championship qualifying. Samaras, who plays for West Bromwich Albion...
BASKETBALL
Panathinaikos and PAOK retain perfect record
The third round of games in the Basket League over the weekend saw PAOK overcome the strong resistance of host KAOD at Drama, and Panathinaikos and Olympiakos inflict heavy losses on AEK and...
Inside Sports
COMMENTARY
Time is running out in Afghanistan
Thirteen years after the attacks on the Twin Towers and NATO's entry into the war in Afghanistan, things remain pretty much unchanged: Political instability and insecurity  reign in the Cent...
COMMENTARY
Cool heads required
It’s time for Athens and Nicosia to deal with the current situation in Cyprus’s Exclusive Economic Zone (EEZ), which a Turkish seismic research vessel has breached against international law,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. In Athens, NATO chief sees spike in Russian flights on border
2. Greece drops Samaras for Euro 2016 qualifier
3. Germany denies backing proposal for Greece to exit aid program
4. Boy, 13, dies after falling from fifth floor in Thessaloniki
5. Italy, Greece banks lead Europe decliners amid capital concerns
6. Civil servants to be investigated for transferring money abroad
more news
Today
This Week
1. Greek euro dilemma is back as minister predicts volatility
2. Students hijack university senate meeting
3. Clientelism belongs to the past, says Mitsotakis
4. Over 1,500 buildings and vehicles damaged in flash floods
5. Peripheral banks lead European shares lower after positive start
6. European stocks tumble as banks decline after Enria’s comments
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Austria’s creative bookkeeping beats Greece on secret debts
3. Cyprus to block Turkey's EU talks after EEZ violation
4. End of reason, end of humanity
5. Clean bill of health for Greek banks from stress tests
6. Samaras pledges action after flash floods in Athens
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.