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Greek corruption probe reveals alleged money laundering and fraud at PostBank
Greek police have arrested three people and charged them with money laudering and defrauding the…
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http://www.euronews.com/2014/01/09/greek-corruption-probe-reveals-alleged-money-laundering-and-fraud-at-postbank
Greek police have arrested three people and charged them with money laudering and defrauding the state.
A businessman and two officials at Hellenic Postbank were accused of rigging a string of loans between 2007 to 2013 that cost the bank 500 million euros.
It eventually went under and was bought by Greek rival Eurobank.
Issued either with low or no interest, the bad loans account almost entirely for the bank’s current poor financial state.
The bad debt has led to 25 people being arrested, including a top financier and a media mogul.
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