George Koskotas

George Koskotas (; born 5 October 1954, Aspropyrgos) is a Greek former banker and publisher whose ascension into a media magnate in the 1980's resulted in a financial scandal that brought down the PASOK government in 1989.

Early life Koskotas was born in Aspropyrgos, Greece on October 5, 1954.

"Koskotas scandal": Bank of Crete

In 1979, Koskotas joined the Bank of Crete as an administrative officer. Koskotas was arrested in the US for older crimes. From there, he claimed that prime minister Andreas Papandreou ordered state companies to deposit funds with the bank, and took bribes from stolen money.

Koskotas allegations against the Papandreou government resulted in the resignations of several ministers and demands for a vote of no confidence in the government.

Indictment and arrest in the United States On October 20, 1988, Koskotas was indicted on five counts of forgery and embezzlement and was suspended from the position of bank chairman. On November 7, he eluded a 24-hour guard at his house and fled the country. Alexander's decision was upheld by United States district court judge Douglas Woodlock on June 27, 1990.

Conviction and parole In January 1992, Koskotas was convicted of forgery and sentenced to five years in prison. In November 1994 he was found guilty of embezzlement and forgery and sentenced to 25 years in prison. He was paroled and released from prison on March 16, 2001 after serving 12 years of his 25-year sentence. Koskotas is barred from leaving the country and was ordered to report to an Athens police precinct twice a month.