Greece: Shipping Magnate Jailed Pending Money Laundering Trial
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Version 0 of 1. A Greek shipping fleet owner, Victor Restis, has been imprisoned pending trial on money laundering and embezzlement charges, court officials said on Friday, making him one of only a few prominent businessmen to be jailed amid public anger over corruption. Mr. Restis, who also has a stake in Greece’s top-selling newspaper, is being investigated in connection with bad loans of up to $660 million from First Business Bank, in which his family owned a majority stake until it was wound down this year. Rated No. 56 in the Lloyd’s List of top 100 influential people in shipping, Mr. Restis has been accused of using his influence over the bank to secure a $7.7 million loan for companies linked to him. The country’s descent into a crippling recession has incited public anger against a political and business elite widely viewed as privileged and corrupt, prompting prosecutors to step up investigations into corruption cases. |