Arrest warrant for close Lavrentiadis associate

A public prosecutor on Friday issued an arrest warrant for publisher Petros Kyriakides, a close associate of businessman Lavrentis Lavrentiadis. Kyriakides was being sought in connection to his involvement in the alleged issuing by Proton Bank of some 700 million euros in bad loans. Lavrentiadis in the past held a controlling stake in the Greek lender.

Meanwhile, three high-ranking Proton executives were also arrested on Thursday, while according to sources, another warrant had also been issued for the arrest of another former Proton bank executive.

Lavrentiadis was arrested on Thursday but was subsequently taken to Evangelismos hospital in central Athens for treatment of a longterm illness. The 40-year-old businessman is facing charges of fraud, embezzlement, money laundering and membership of a criminal gang.

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