A 55-year-old woman was arrested in Athens over the weekend for embezzling small company owners on the pretext that she could secure funding for their businesses from the European Union-backed National Strategic Reference Framework (NSRF).

The suspect, along with her accomplices who were being sought by police, allegedly presented herself as a representative of a company handling EU funding and demanded cash payments ranging from 1,000 to 5,000 euros in order to secure the subsidies.

According to reports, the woman has embezzled some 25,000 euros from 11 people.