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Greek TV owner charged over loans is freed on bail
Greek authorities grant bail to TV station owner charged over allegedly unsecured loan scandal
Associated Press
2014-01-16 06:01 AM

ATHENS, Greece (AP) -- A Greek private TV station owner has been granted bail of five million euros ($6.8 million) after being issued with an arrest warrant in connection with an alleged unsecured loans scandal.

Dimitri Contominas has been charged with fraud and money laundering following an investigation into loans issued to businessmen by Hellenic Postbank, which allegedly resulted in 500 million-euro losses for the bank.

Alpha TV owner Contominas denies wrongdoing. He has not been taken into custody because when his arrest was ordered last week he was in the hospital, where he remained under guard. Contominas was banned Wednesday from leaving the country.

Another 29 people, including former bank officials, have been charged.

Hellenic Postbank was merged last year with Greece's Eurobank under a program to restructure the financially struggling country's banks.

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