Bank executives to have assets seized

The Council of Misdemeanor Court Judges on Wednesday ordered the freezing of all assets belonging to the main shareholder in Proton Bank, Lavrentis Lavrentiadis, and another six executives of the bank who have been implicated in allegedly questionable loans of some 700 million euros made by the lender to Lavrentiadis?s group of companies.

Lavrentiadis and the other suspects have been given until November 22 to prepare their defense after requesting an extension from first instance prosecutor Yiannis Dragatsis.

Last month Proton Bank, which has a network of 31 branches, became the first lender to be nationalized under the Financial Stability Fund.