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100 million euro bail set for Lavrentiadis

The prosecutor has asked for a bail for jailed businessman Lavrentis Lavrentiadis, pegged at the exorbitant sum of 100 million euros. If the businessman posts the bail he may be released pending trial.


The proposal by prosecutors, numbering dozens of pages, proposes, besides100 million euro bail that will allow the release of the businessman for health reasons, also proposed restrictive conditions and a ban from leaving the country, as well as scheduled visits to his local police precinct.

At the same time, prosecutor Panayotis Kapsimalis propose to the appellate council that Mr Lavrentiadis be prosecuted for felony concerning his role in the Proton Bank case, along with four high ranking Proton Bank officials. As to the latter the prosecutor has asked for their release pending trial on bail of 400,000 euros each.

According to charges the overall damage to Proton Bank from toxic loans comes to 703 million euros.