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Greek tycoon Lavrentiadis in Kolydallos prison over Proton Bank embezzlement

After three days wandering from hospital to hospital, entrepreneur Lavrentis Lavrentiadis entered a cell in Korydallos prison in Athens on Monday. Supported by three policemen, Lavrentiadis entered Korydallos main entrance limping. He has been suffering from rheumatoid arthritis since several decades.

Although arrested on Thursday, Lavrentiadis claimed health problems and spent the last three days taken from hospital to hospital and undergoing medical tests.  Greek media reported that he was examined on psychological and heart problems and mental distress.

After spending a night at Police Headquarters in Athens, Lavrentiadis was taken to Evangelismos general hospital, from there to Dafni psychiatric hospital and back to Evangelismos.

Finally on Monday, doctors ruled that the patient suffered from a chronic problem and that he wouldn’t need hospitalization. He has been sent to VIP section of the prison and it has yet to be decided whether he will remain there or move to the hospital section of the Korydallos.

The businessman issued a statement over the weekend saying that the decision to imprison him overlooked his health problems and that he needed treatment abroad.

The arrest warrant against Lavrantiadis was issued on suspicion he might flee abroad. He faces felony charges on alleged embezzlement of 700 million euro from his Proton Bank to his own companies and thus in form of bad loans.

He is to be charged on fraud, embezzlement, money laundering, breach of faith and forming a criminal gang.

The prosecutor ordered that Lavrentiadis would be in custody pending his trial.

Charges are also filed against a total of 36 people involved in the Proton Bank case. Three people were arrested on Friday, a fourth gave herself in today. An arrest warrant has been issued also against his former close partner Petros Kyriakidis , owner of newspaper Athens News, but Greek media claim he might have fled abroad.

full Lavrentiadis story here.



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  1. He has been sent to VIP section of the prison


  2. Great idea, new concept. Exactly what is needed. Creativity.
    Greece can specialize in jail tourism. 5 star jail for the very rich, 1 star jail for package tours… Open air jail for everybody else.

    This is giving me some seriously scary thoughts. I even remembered this, from a man called Clarence Darrow:

    I have never killed a man but I have read many obituaries with great pleasure

    and found myself smiling at some very dark thoughts involving bankers and politicians world wide…
    thanks Jean!