NEWS

Lagarde list probe has yielded 80 million euros for the state

lagarde-list-probe-has-yielded-80-million-euros-for-the-state

An investigation into wealthy Greek depositors on the so-called Lagarde list has raised 80 million euros in taxes and fines, according to sources.

The financial prosecutors Panagiotis Athanasiou and Galinos Bris, who have been leading a crackdown on tax evasion and financial crime for the past two years, have completed inspections on 170 names from the list of hundreds of depositors, drawing 80 million euros in revenue for the state. Of this amount, 13.8 million euros was collected following the introduction of legislation by the previous deputy finance minister Nadia Valavani facilitating the repayment of debts to the state.

Several well-known businessmen are among those who made use of the law to pay their dues, Kathimerini understands.

The list, which was given to Greek authorities in 2010 by then French Finance Minister Christine Lagarde, feature 2,062 accounts. They have been linked to 1,725 individuals and businesses.

Of these individuals and businesses, 170 have been investigated and have paid their dues while another 350 are under inspection. In many cases, prosecutors have seized assets to pressure debtors into repaying the state.

The prosecutors have been working closely with officers of the Financial Crime Squad (SDOE). In parallel to the work of the financial prosecutors, the Athens district attorney's office is probing claims that certain individuals on the Lagarde list ran a money laundering racket.

Prosecutors traveled to Paris shortly before the elections to question former HSBC employee Herve Falciani in connection with the Lagarde list and are likely to visit him again soon.