Greek police arrests renowned shipowner

Greek shipowner Victor Restis was arrested on Tuesday on suspicion of money laundering and embezzlement. He becomes the latest prominent business man targeted by authorities following the country's financial breakdown. 

Photo: /ritzau/Thomas Borberg

Greek police arrested shipowner Victor Restis on Tuesday on suspicion of extensive money laundering and embezzlement, and the Greek shipowner thus becomes the most recent among several prominent business men who have been arrested since the Greek economy collapsed.

News agency Reuters writes that Restis, who in addition to a massive fleet owns major shares in Greek media, among other assets, is accused of having abused his authority in First Business Bank, FBB, by ensuring loans of almost USD 700 million to persons and companies with whom he has personal connections. Until recently, the Restis family was a cotrolling shareholder in the bank, which has now been taken over by the Greek national bank.

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