NEWS

Con man nabbed for selling fake energy stakes

A 40-year-old male suspect was arrested on Monday in Athens on charges of fraud after he set up a bogus photovoltaic panels company.

The suspect, identified only by his initials, A.S., was allegedly posing as an MIT professor and as an economic adviser to former Prime Minister George Papandreou.

An investigation by Greece’s cyber crimes squad found that the 40-year-old had defrauded at least five people of a total of 311,000 euros that he said was to be invested in the Helios solar project.