Publisher linked to Lavrentiadis cleared after paying up

Publisher Antonis Delatolas, who faced money-laundering charges after it emerged that he received 500,000 euros from an associate of businessman and Proton Bank shareholder Lavrentis Lavrentiadis, on Thursday handed a prosecutor an irrevocable letter of credit for the same amount so it could be repaid.

Delatolas’s move to return the money means that he will no longer face charges. The original payment was made to Delatolas by Lavrentiadis’s business associate Petros Kyriakidis in January 2012 in return for a share in the Pontiki weekly.

Lavrentiadis has since been remanded in custody on suspicion of embezzling funds from Proton Bank, while Kyriakidis has evaded arrest.