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Expelled or not, former Hellenic Postbank CEO handcuffed in Athens

Former CEO of Hellenic Postbank Aggelos Philippidis was arrested on Wednesday morning right upon his arrival in Athens airport. He was immediately handcuffed by Greek policemen and taken to police headquarters and from there to the prosecutor. He will give testimony next Monday.


Aggelos Philippidis is to face felony charges on money laundering and fraud over suspected crony loans he allegedly gave as CEO of the Hellenic Postbank to several Greek businessmen. The loans of estimated worth 400-500 million euro were given between 2006 and 2011 without the sufficient guarantees, while some of them were never paid back.

Philippidis was sought by international arrest warrant when he was arrested in Turkey beginning of January. After having spent almost three weeks in a Turkish prison, he was released by a court on Tuesday.
It is not clear whether he was expelled to Greece. Aggelos Philippidis claims, he was not expelled but that he voluntarily returned to Greece. A mitigating factor when the former bank CEO will face the justice.

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