Ex-Hellenic Postbank chief Filippidis faces magistrates in unsecured loans probe

The former head of Hellenic Postbank, Angelos Filippidis, arrived at court in Athens on Monday morning to give his deposition as part of the investigation into claims the lender issues unsecured loans during his time in charge.

Filippidis was expected to submit a 300-page written deposition and face questioning from magistrates at the Evelpidon court complex.

A total of 25 people have been charged with fraud and money laundering in connection with the scandal miring TT, which issued half a billion euros in suspicious loans between 2007 and 2012, according to a prosecutor’s report.

The bulk of this – some 300 million euros in loans – was issued between the fall of 2008 and fall 2009, when Filippidis was at the lender’s helm, according to Bank of Greece inspectors.

According to a BoG report, TT issued loans without guarantees and with favorable terms to several companies, some overindebted ones, with much of the money ending up in the personal bank accounts of some of the business owners who benefited.

Filippidis denies any wrongdoing and told journalists as he went into the court building on Monday that he would “fight” for banks to retain the right to issue loans as they see fit. “Otherwise, prosecutors will have to approve loans in the future,” he is reported to have said.