Defendants in Postbank case cleared of all charges

Defendants in Postbank case cleared of all charges

Two former high-ranking executives and two businessmen were cleared of all charges related to loans issued by the now-defunct Hellenic Postbank on Wednesday in a court decision that marks the final chapter of a trial that had dragged on for three years.

Judges at the Athens court upheld the recommendation of the prosecutor in the case, who argued that there was insufficient evidence to back charges of fraud against the bank’s former head Angelos Filippidis and vice chairman Marios Varotsis, as well as businessman Dimitris Kontominas and his associates Ioannis Rorris and Alexandra Liakopoulou.

There was no evidence, the prosecutor told the court, to suggest that the defendant had deceived the bank’s board into approving hundreds of unsecured loans.

A total of 35 defendants have stood trial in connection with the case, which concerned around half a billion euros that was issued in suspicious loans by the bank between 2007 and 2012.