Friday October 31, 2014 Search
Weather | Athens
18o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Piraeus prosecutor investigating use of funds for building renovation

The front (left) and back (right) of the Piraeus Society building on Alkiviadou and Karaiskou streets.

A Piraeus prosecutor has launched an investigation into the alleged misappropriation of state funding by the Piraeus Society, one of Greece's oldest sports clubs, for the renovation of its historical building between Alkiviadou and Karaiskou streets in the port city.

According to a report submitted to the prosecutor by the public administration inspector Leandros Rakintzis based on findings by the Financial Crimes Squad (SDOE), a total of 2.3 million euros in funding was earmarked for the Piraeus Society by the Environment and Public Works Ministry in 2000, 2001 and 2004 for reconstruction work on three of its properties, which have been listed for preservation.

Of this amount, just over 1 million euros was intended for the building on Alkiviadou and Karaiskou streets, though the work has not been carried out and the property remains a ruin to this day.

SDOE's investigation uncovered evidence to suggest that the society may have used bogus invoices to claim more than 700,000 euros of this funding package without actually commissioning any work.

The Piraeus Society has responded to the accusations by saying that the 700,000 euros was used on the other two properties, a claim that Rakintzis has challenged.

SDOE is also conducting its own investigation into the matter, further focusing on the three companies that issued the bogus invoices.

ekathimerini.com , Tuesday Jul 22, 2014 (10:35)  
Cyprus court ruling opens way for bailout funds
Greek PM appoints new defense, development ministers [Update]
PSI victims protest in Athens, Thessaloniki
Archaeologists find underground vault in Amphipolis tomb
Big monthly drop for stocks
The local bourse lost about one-seventh of its capitalization in October as the benchmark declined 13.73 percent within the month despite Friday’s gains of almost 1 percent. The wave of glob...
Eurozone inflation up, unemployment steady, Eurostat reports
Eurozone inflation edged up to 0.4 percent from multi-year lows while unemployment was little changed, official data showed on Friday, providing only limited reassurance that a modest econom...
Inside Business
BASKETBALL
Obradovic watches Greens thrash his Fenerbahce
The second homecoming of former Panathinaikos coach Zeljko Obradovic, now at Fenerbahce, was not as emotional as last year’s, but it was certainly was the night of an emphatic triumph for th...
SOCCER
Berg returns to add spice to Panathinaikos´s Cup win
The second round of games for the group stage of the Greek Cup produced plenty of interesting games and results in midweek, but it still lags the upset potential that the knock-out stages of...
Inside Sports
COMMENTARY
The judiciary’s responsibility
The reform efforts over the past few years have begun to bear fruit. Greece has improved its standing in the World Bank’s Doing Business rankings, rising 48 positions from 2010 to 61st place...
EDITORIAL
Findings raise eyebrows
An investigation into money transferred to foreign banks by civil servants since 2010, when Greece’s brutal debt crisis erupted, has come up with some striking findings. The checks, which we...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Big monthly drop for stocks
2. Cyprus court ruling opens way for bailout funds
3. Greek PM appoints new defense, development ministers [Update]
4. PSI victims protest in Athens, Thessaloniki
5. Archaeologists find underground vault in Amphipolis tomb
6. Eurozone inflation up, unemployment steady, Eurostat reports
more news
Today
This Week
1. Man shot dead, woman injured in Vathis square attack
2. Cyprus’s Georgiades bets on economy for Irish-style bailout exit
3. Archaeologists find underground vault in Amphipolis tomb
4. Germany’s 10-year bonds decline before euro-area inflation data
5. Greek retail sales rise for third month in a row
6. New defense minister to be appointed without reshuffle
Today
This Week
1. Austria’s creative bookkeeping beats Greece on secret debts
2. End of reason, end of humanity
3. Clean bill of health for Greek banks from stress tests
4. Samaras pledges action after flash floods in Athens
5. Eurobank, National Bank restructurings eliminate capital gap
6. Athens flood damage assessed, compensation payments to begin
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.