Proton Bank trial to begin in March next year

An Athens criminal court is expected to hear the case against businessman and former Proton Bank Chairman Lavrentis Lavrentiadis and another 42 defendants on March 23 next year.

The case centers on questionable loans amounting to some 700 million euros which were allegedly handed out by the defunct lender to Lavrentiadis’s group of companies.

All suspects are facing charges over running a criminal organization, money laundering, fraud and breach of faith in connection with a series of alleged embezzlements at the bank.

Lavrentiadis was conditionally released in June after spending 19 months in pretrial custody. He was ordered to pay 500,000 euros in bail and regularly report to his local police precinct. He was also banned from leaving the country.