Aspis ac­tion.

Kathimerini English - - Front Page -

A court has de­cided that prop­er­ties in Athens, Thes­sa­loniki and on the Aegean is­land of My­conos worth 17 mil­lion eu­ros be­long­ing to busi­ness­man Pav­los Pso­mi­adis will be seized af­ter 147 pri­vate in­vestors with his in­vest­ment firm Aspis Cap­i­tal took legal ac­tion against him for fi­nan­cial losses in­curred. Pso­mi­adis, also the pres­i­dent of the de­funct Aspis Pro­nia life in­surance firm, has been charged with pro­vid­ing Aspis’s cred­i­tors with a false 550-mil­lion-euro letter of guar­an­tee from a Bri­tish bank to keep the busi­ness afloat. An­other 98 in­vestors have sued him over this case, to be heard at the end of this month.

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