Greek court rejects Victor Restis’s bail request

A council of appeals court judges on Thursday rejected a request by businessmen Victor Restis to be released from custody.

The judges rejected the shipping tycoon’s argument that he is not a flight risk and that he is only being held for embezzlement and money laundering as a result of having been tricked by associates.

Restis denied that he was the recipient of a 5.8-million-euro loan granted by First Business Bank, where he was chairman.

The 45-year-old businessman said that the money ended up in the account of an associate.