Greek Tycoon with Business in Bulgaria Arrested in Athens

Crime | July 29, 2013, Monday // 10:32|  views

Victor Restis is one of Greece's wealthiest businessmen and entrepreneurs, photo by blogs.gossip-tv.gr

Greek tycoon and ship owner with business interests in Bulgaria, Victor Restis, has been arrested in Athens by officers of Greece's Organized Crime Unit.

The Bulgarian Standard daily writes Monday that Restis, 45, is facing charges for embezzlement in the amount of EUR 5.8 M from the Greek FBB (First Business Bank) where his family was a major shareholder before its operating license was revoked and the bank was put into special liquidation.

According to the Athens News Agency (ANA) the arrest warrant was issued in regard to loans granted by FBB in the amount of EUR 524 M, while Restis is personally accused of getting a EUR 5.8 M loan from the bank through a holding company which ended up with him and his family.

In May 2013, the "healthy" part of FBB was "swallowed" by the National Bank of Greece after Restis was unable to meet the amount required under the country's ongoing recapitalization of banks.

Restis has been interrogated last Tuesday. The Restis Group issued a short statement strongly refuting the allegations, labeling them "false accusations of criminal wrongdoing made by a former employee."

He has been released only to be detained again on Friday, July 26, and will be kept behind bars until the conclusion of the probe.

Restis is one of Greece's wealthiest businessmen and entrepreneurs. Among Greek shipowners, he ranks sixth largest, controlling some 92 ships. He owns a consortium developing successful business in the media, bank, energy and real estate sectors, and in the food processing industry.

Restis Group includes hundreds of companies.

The Greek magnate has financed the "Assos Capital" firm which in 2008 acquired one of the largest shopping centers in Bulgaria – The Mall in the capital Sofia.

In the spring of 2008, representatives of the Restis family and Group took part in the official opening ceremony of the shopping mall which is located on "Tsarigradsko Shosse."

Restis is also a top investor in Carrefour Bulgaria.

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Tags: Victor Restis, organized crime, Assos Capital, Carrefour Bulgaria, The Mall, loan, First Business Bank, FBB, embezzlement, Athens, arrested, Bulgaria, tycoon, Greek

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