Saturday, December 20, 2014   

Greek postal bank ex CEO returns to face charges
(02-05 16:48)

The former chief executive of the Hellenic Postbank, being investigated over an unsecured loans scandal, returned to Greece on Wednesday to face charges following his arrest in Turkey last month, officials said.
Angelos Filippidis was arrested at Athens airport and will be taken to a prosecutor later in the day, a justice source told AFP.
He had been arrested in Turkey in January under an international warrant and spent the ensuing three weeks in an Istanbul prison.
Filippidis has denied any wrongdoing, noting that the loans were issued with unanimous decisions by the Hellenic Postbank board.
An unsecured loan is particularly advantageous to the borrower since no guarantee or collateral is required.
Over twenty people have been charged in the probe into losses by the bank of over 400 million euros.
Among those charged is the head of the Hellenic Financial Stability Fund -- charged with maintaining the stability of the Greek banking system -- Anastasia Sakellariou, who was part of a committee that handled the loans under investigation.
Greek authorities have begun getting tough on corruption, bringing to light the extent of fraud before the economy collapsed in 2010.
A minor but well-capitalised lender, Hellenic Postbank took a serious blow in 2012 from a restructuring of Greek sovereign debt.
Its shares were suspended last summer after a run by shareholders following statements from the finance minister that the bank had become "unsustainable''.
It was eventually absorbed by Eurobank, one of Greece's four biggest banks.
The Greek banking sector underwent radical restructuring and consolidation last year under the terms of the country's bailout deal with the European Union and International Monetary Fund. --AFP
   
Other World breaking news:
Malaysia charges Australian mum with drug trafficking (12-19 13:10)
Up to 11 dead in Japan snow storms: reports (12-19 12:47)
Japanese scientist resigns over stem cell scandal (12-19 12:36)
SKorea far-left party dissolved for 'backing NKorea' (12-19 11:20)
11th Sierra Leonean doctor dies from Ebola (12-18 18:30)
SKorean group cancels plans for border tree (12-18 17:57)
Merkel says Russia sanctions remain 'unavoidable' (12-18 17:55)
Airbags could have expiry date: Japan auto industry chief (12-18 17:49)
Russian economy to rebound in two years at latest: Putin (12-18 17:37)
Japan lab cannot repeat ground-breaking cell finding (12-18 15:04)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.