NEWS

Ex-bank manager tied to 6-mln-euro swindle

The 49-year-old former manager of a bank on the island of Karpathos, in the Dodecanese, yesterday allegedly admitted to spearheading a scam to embezzle 6 million euros from the ATEbank branch where he worked. The suspect reportedly provided a local court with a series of names of businesses and individuals he is alleged to have «supported» with the cash. His testimony also suggests that other bank staff were involved in the scam. According to court sources, the suspect has offered to give up his assets to make up for the embezzled funds. He was remanded in custody pending further appearances in court. Meanwhile, police on Karpathos and Rhodes are investigating the possibility that the 49-year-old may be behind a string of instances of fraud, forgery and money laundering also under investigation.