Aspis: Suspicious Money Trails

Aspis: Suspicious Money Trails

Aspis Pronia’s Inspector is expected to claim 60 million euros from the group’s subsidiaries in an effort to recover part of the money lost in suspicious cash transfers among the group’s companies.

The group’s former major shareholder established dozens of subsidiaries and used them, on the one hand so as to cover the group’s financial discrepancies and on the other hand so he can get a hold of corporate funds for his own benefit.

On the top of  the “suspicious transactions” list is Aspis Group’s and Aspis Capital’s debt. The companies seem to owe about eight million and 9.6 million respectively.

40 million euros  have also been transferred to Hestium on behalf of Aspis Liv and Commercial Value, while the audit revealed a 10 million euros debt from three individuals.

Claiming the money in court would be a difficult task. Certain records and documents are necessary to prove the transfer of funds in order to validate the debt and apply to the court for a possession order.

Click here for the Greek article.

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