Restis to face magistrate over embezzlement, money-laundering charges

Shipowner Victor Restis is due to face a magistrate on Friday to respond to charges of embezzlement and money laundering in connection to a 5.8-billion-euro loan granted last year by First Business Bank, where he was chairman until it was absorbed by National Bank earlier this year.

The money from the loan is alleged to have ended up in accounts linked to Restis, although the businessman denies this.