Lavrentiadis Released on 500,000 Euro Bail

Lavrentis Lavrentiadis remanded in custody for the Proton Bank scandal in Greece, was released on a 500,000 euro bail.  He was accused of money laundering and embezzlement of  701 million euro from Proton Bank through unsecured loans to companies and bank accounts of his interests.  He was kept in custody since 2012. The Athens Court of Appeals, approved his application and released him from detention on a 500,000 bail. Most of the time he had been held in Korydallos Prison hospital due to health problems.  Lavrentiadis suffers from psychological problems as well. Lavrentiadis is also a suspect to the case of attempted murder of a businessman.   He is allegedly responsible for the issuing of loans to the businessman worth 100 million euros by Hellenic Postbank without following any risk assessment procedures. These  felony charges were the reason for which the Court of Appeals had decided to extend his detention period to two years, although it was originally set by the law to 18 months.  

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