A Greek magistrate on Friday ordered that the oligarch Lavrentis Lavrentiadis, who was arrested Thursday on charges of embezzlement and fraud, be remanded to custody after visiting the 40-year-old businessman in an Athens hospital. Mr. Lavrentiadis, the former majority stakeholder in Proton Bank, which is alleged to have issued $900 million in bad loans to keep other businesses afloat, is the focus of an investigation that has highlighted concerns about deep-rooted corruption and crony capitalism in Greece. He was admitted to the hospital on Thursday night after citing health problems when the police visited his home in an affluent Athens suburb. Mr. Lavrentiadis was transferred late on Friday to a psychiatric hospital, a police spokesman said.
World Briefing | Europe: Greece: Oligarch Under Arrest Is Moved to Psychiatric Hospital
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World Briefing | Europe: Greece: Oligarch Under Arrest Is Moved to Psychiatric Hospital
