Greek shipowner gets bail in Dutch dairy bankruptcy case

The Greek Appeal Court freed shipowner John Karageorgis on EUR100,000 ($111,538) bail 4 October, five days after he had been detained by police over a warrant issued by Dutch authorities with regards to the bankruptcy of a dairy firm in which he was a shareholder five years ago.

The Greek Appeal Court freed shipowner John Karageorgis on EUR100,000 ($111,538) bail 4 October, five days after he had been detained by police over a warrant issued by Dutch authorities with regards to the bankruptcy of a dairy firm in which he was a shareholder five years ago.

Karageorgis, 66, founder and president of Times Navigation, suffered a heart incident following his arrest at his Athens home, 28 September, and was placed under police guard in the cardiology wing of a central Athens hospital.

Media reports say he faces charges of fraud, forgery and fraudulent bankruptcy, and has had his passport taken and a condition of his bail is that he report each week to his local police station.

Besides shipping, Karageorgis is the md of Hellasnet, a company controlling 11 regional Greek TV channels.

 



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