Thomas Liakounakos

An Athens court on Thursday acquitted four suspects who had been accused of breach of faith in connection with the procurement of Chinook military helicopters more than 20 years ago, citing lack of incriminating evidence.

A prosecutor in a three-member appeals court in Athens on Wednesday recommended the acquittal of four suspects tried in connection with the procurement of Chinook military helicopters more than twenty years ago, citing lack of incriminating evidence.

A three-judge criminal court in Athens on Wednesday passed down a 16-year suspended prison sentence to Greek arms dealer Thomas Liakounakos, a senior executive of his company SONAK and two former defense ministry officials in connection with an electronic defense system which SONAK was commissioned to provide for the Greek army but which it failed to deliver.

Eleven people, including former Defense Ministry officials and arms trader Thomas Liakounakos, are to face trial on charges of breach of faith in connection with the procurement of 170 Leopard 2 tanks from German company Krauss-Maffei Wegmann when Socialist stalwart Yiannos Papantoniou was minister between 2001 and 2003.

A prosecutor has recommended to a council of Appeal Court judges that 17 people should stand trial over claims that bribes were paid to a former Greek minister and other officials in connection to the purchase of defense equipment.

On Monday night, Thomas Liakounakos, aged 67, and a retired former high-ranking military officer were taken into custody. The high-profile businessman was apprehended from his home in upmarket Psychiko after an arrest warrant was issued in relation to charges stemming from a case involving a contract with Swedish multi-national Ericsson.

A well-known Greek businessman and high-profile representative of foreign defense manufacturers was arrested late Monday evening in Athens. Thomas Liakounakos was apprehended by police after an arrest warrant was issued in relation to charges stemming from a case involving a contract with the multinational Ericsson.

A team of German prosecutors is expected in Athens before Christmas to exchange information with their Greek counterparts regarding corrupt arms procurement deals, Kathimerini understands.

 Prosecutors getting close to key officials who signed off on deals a decade ago

Businessman Thomas Liakounakos was ordered to post 300,000 euros in bail and was banned from leaving the country on Monday after testifying in front of special anti-corruption prosecutor Costas Sargiotis.