NEWS

Shipowner given extra day to prepare for questioning over loans

Shipowner Victor Restis has been given until Friday to prepare for further questioning by a magistrate in connection to loans taken out from First Business Bank, where he was chairman.

Restis is to be questioned over a 10-million-euro mortgage that he obtained from FBB as authorities believe the money was diverted to companies he was involved in.

Restis insists there was no problem with the mortgage and that the payments are being met.

Last week, Restis denied he was the recipient of a 5.8-million-euro loan granted last year by FBB.

The 45-year-old businessman said that the money ended up in the account of an associate, who is being sought by authorities. The lender has since been taken over by National Bank.