A prosecutor?s office in Athens has asked Swiss authorities and Germany?s Deutsche Bank to provide it with details about the financial activity of Pavlos Psomiadis, the president of the defunct Aspis Pronia life insurance firm who has been charged with fraud and embezzlement, Sunday?s Kathimerini has learned.
According to judicial documents seen by the newspaper, Psomiadis is linked to the depositing of some 1 million euros in cash and title deeds in trust funds managed by Credit Suisse. This transaction is linked to a trust at another, smaller, Swiss bank that was set up in October 2009, a month after Aspis had its operating license revoked.
Psomiadis has been charged with providing Aspis?s creditors with a false 550-million-euro letter of guarantee from a British bank to keep the business afloat. The case came to light after 65 investors sued the firm. Prosecutors are also investigating a letter of credit issued by Deutsche Bank.