Banker freed after 12 years

Athens - The central figure in a major financial scandal that rocked Greece and dragged down the socialist government in 1989…

Athens - The central figure in a major financial scandal that rocked Greece and dragged down the socialist government in 1989 was released from prison yesterday after having served more than 12 years.

Former banker, Mr George Koskotas, who had been convicted in 1994 of embezzling 33 billion drachmas ($87.8 million at today's rate) from the Bank of Crete walked free after his appeal for having served more than half of his 25-year sentence was upheld.