ATHENS Dec 13 Prominent Greek businessman
Lavrentis Lavrentiadis was arrested on Thursday over his alleged
involvement in a banking scandal, a court official and a police
Lavrentiadis was arrested at his home in a seaside suburb of
Athens. The 40-year-old businessman will appear before a
prosecutor on Friday who will decide if he should stay in jail
or be released pending trial, the sources said.
Lavrentiadis's arrest was reported by Greece's ANT1
television channel and other local media.
A spokesman for Lavrentiadis was not immediately available
for comment. Lavrentiadis has previously denied any wrongdoing.
The police had no comment.
Lavrentiadis began his career in the chemicals industry and
then moved into banking and media. A Greek prosecutor filed
felony charges against him earlier this year in relation to the
collapse of Proton Bank, a small Greek financial institution in
which he was the biggest shareholder.
If convicted, he could face life in prison. Another 27
suspected associates, including Proton executives, also face
On Tuesday, a court ordered the confiscation of
Lavrentiadis's property and assets, the court official and
police source said.
Proton became the first Greek bank to be effectively
nationalised after it fell under a bank rescue fund set up by
Greece and its international lenders.