NEWS

Wife and children of former Aspis group chief arrested

The wife, daughter and son of the former chief of the Aspis banking and insurance group, Pavlos Psomiadis, were arrested on Thursday on a warrant issued by public prosecutor Christos Papacostas.

All three face charges of fraud, embezzlement and participating in a criminal organization, among others.

Ex-bank chief Psomiadis was sentenced to eight years in prison for fraud and forgery in 2012.

According to the case file, the losses sustained by the state and private investors exceeded the sum of 200 million euros.

Meanwhile, the group’s demise led to the development of T-bank, a small lender that was nationalized in 2011.