Court orders conditional release for Lavrentiadis

An Athens court on Tuesday ordered the conditional release of businessman Lavrentis Lavrentiadis. The former major stakeholder in Proton Bank was ordered to pay 500,000 euros in bail and was banned from exiting the country. Following his release he will also have to report to his local police precinct at regular intervals.

Lavrentiadis is facing charges over running a criminal organization, money laundering, fraud and breach of faith in connection with alleged embezzlement at Proton Bank.

The court reached its decision following an appeal by the businessman who cited his deteriorating health.

Lavrentiadis has completed 19 months in pre-trial custody.