NEWS

Lavrentiadis loans probe results expected in January

Grigoris Peponis, the prosecutor responsible for investigating financial issues, expects to have by the beginning of January the results of a probe into businessman and main shareholder in Proton Bank Lavrentis Lavrentiadis relating to allegedly questionable loans of some 700 million euros made by the lender to his group of companies.

Another 29 people are being investigated.

Lavrentiadis was the subject of a prosecutor?s investigation in the summer over a 51-million-euro withdrawal at Proton Bank.

The probe determined that the money was paid to the businessman?s group of companies, including pharmaceutical firm Alapis.

Lavrentiadis denied any wrongdoing and returned the money.