Athens court clears Psycharis, Alpha Bank executives over loans

An Athens court on Wednesday cleared former president of Lambrakis Press Group (DOL), Stavros Psycharis, and 10 executives of Alpha Bank of charges concerning loans he was granted to the tune of 45 million euros to purchase shares in DOL.
Psycharis, 74, had been charged with securing loans without submitting the necessary collateral and guarantees. The 10 executives had been charged with failing to comply with bank regulations.
The court ruled that the loans were issued in accordance with applicable regulations and procedures as set by the Bank of Greece.
The media group came under the control of shipowner Evangelos Marinakis in 2017.