Former main shareholder of Proton Bank, Lavrentis Lavrentiadis is expected to be released from his custody cell after an Athens court decided his conditional release on a 500,000 euro bail. Lavrentiadis had requested for his release on bail citing serious health problems.
Lavrentis Lavrentiadis, the once powerful businessman has been in custody since 19 months for two cases: the alleged embezzlement of Proton Bank and for being a suspect for inciting attempted murder of businessman Athinagoras Andriadakis in June 2012.
Lavrendiatis will be allowed to stay in one of his homes but forbidden to leave the Attica prefecture and the country, use sea or air ways. Furthermore he will have to appear 3 times per month at the police station of his neighborhood.
Lavrentiadis has been suffering from chronic rheumatoid arthritis,and according to media reports of last February, his health situation has been deteriorating with the effect that he is incapable to move at 80%.
The businessman is facing charges on leading a criminal organization, money laundering, fraud and breach of faith in connection with the alleged embezzlement of 700 million euro from Proton Bank that he used to give insecure loans to business of his interest.
Thirty three people are allegedly involved in the Proton Bank scandal, among them the former close partner of Lavrentiadis, Petros Kyriakidis who is fugitive.