Former Jumbo executive says POS property sales were legal
A former executive of toy retailer Jumbo rejected on Friday allegations his real estate company conducted irregular property sales with Chinese investors, saying the use of its POS to process the transactions was fully in line with banking rules.
Evangelos Papaevangelou resigned on Wednesday after a news report claimed he had set up a real estate company, Destiny Investment, which allegedly sold property to Chinese nationals through the use of POS, circumventing capital controls in China.
The scheme also qualified those investors for Greece's Golden Visa program.
Papaevangelou said Destiny Investment requested and received legally POS from two Greek banks for transactions in Greece and China, with the aim of selling property.
"The procedure of buying and selling real estate is conducted in a perfectly legal manner and through interbank...