Giorgos Georgaras, suspect in Proton case, released from custody

One of the suspects in the Proton Bank embezzlement case was released from custody on Thursday.

Giorgos Georgaras, 82, is accused of receiving a 19-million-euro loan from the bank as the legal representative of Hellenic Fertilizers (ELFE) and then paying the money directly into an account of businessman Lavrentis Lavrentiadis, who was also the main shareholder in Proton Bank.

Georgaras denies any wrongdoing.

Another 11 people are still in custody in connection with the case.

Four suspects are being sought.