Griveas and wife bailed over Hellenic Postbank loans

Businessman Kyriakos Griveas and his wife Anastasia Vatsika, wanted in connection to alleged bank fraud, were released on bail Monday after facing a magistrate in Athens.

The judge asked Griveas to post bail of 500,000 euros and his wife 100,000 after the both gave their depositions.

The couple is facing charges in Greece in connection to a probe into unsecured loans worth some 17 million euros issued to companies owned by Griveas by Hellenic Postbank (TT) without the appropriate guarantees.

It is alleged that the businessman used 15 million euros of this money to pump money into three firms he owned in Cyprus that had run into financial difficulties.

Griveas and his wife arrived in Greece earlier this month after being extradited from the UK.