Thessaloniki court jails 36 over 4-mln-euro mortgage scam

A total of 36 people were convicted in Thessaloniki on Friday in connection to a 4.1-million-euro scam involving mainly mortgages.

Most of the loans were issued in 2006, when a real estate firm owned by two brothers helped customers who wanted to buy properties submit false details to a bank branch in Kalamaria, where the mortgages were approved.

The two brothers who owned the firm were given nine- and 15-year sentences for their part in the scam. The bank employee received a 12-year term.

The stiffest sentence for bank customers who supplied false information to qualify for the loans was five years in prison.

Forged tax documents were used to secure the mortgages.

Another 19 people were cleared of any offenses due to the statute of limitations having expired.