More than 10 companies that were set up with minimal share capital received millions of euros in funding from Proton Bank and later came under the control of the lender’s main shareholder, Lavrentis Lavrentiadis, according to data gathered by prosecutors.
Lavrentiadis, in custody, and 32 others allegedly embezzled funds from the bank, which was missing 713 million euros.
According to the case file seen by Kathimerini, Proton lent to several companies that then came under the control of Cyprus-based Mideas Holdings Ltd, which was allegedly owned by Lavrentiadis.
The firms involved included Novo Arteus, which received 72 million euros in loans despite having a share capital of just 60,000 euros. MAK Pharmaceuticals borrowed 70 million euros with the same share capital. In total, more than 10 companies borrowed from Proton and then passed to Mideas.
The case file also outlines how Lavrentiadis allegedly undermined the bank’s oversight process.