Greece Goes Easy On Financial Criminals

cellFrantic for cash, Greece is considering a plan to reduce prison sentences for people convicted of financial crimes to two to three years maximum – if they repay everything they stole.

The list includes money launderers, tax evaders, fraudsters, smugglers and people who have failed to properly declare their assets but not politicians, local authority officials or any public sector employees embroiled in corruption cases.

The law already allows people to buy off jail time and now could be extended to the kind of scandals that have been common in Greece before the  current government of Prime Minister Antonis Samaras began cracking down, although there’s still not been a single prosecution of a major tax cheat.

The law reportedly would provide a maximum two-year sentence if thieves return their ill-gotten gains before facing a judge, but if they wait to pay it back after giving a deposition but before standing trial, the jail term will increase to three years. It wasn’t explained how people would be urged to come forward and admit stealing or not paying the government what it’s due.

Samaras, the New Democracy Conservative leader, and his Deputy Prime Minister/Foreign Minister/PASOK Socialist leader Evangelos Venizelos haven’t signed off on the idea yet though.

It is expected that the new regulations, which the Justice Ministry has been working on for some time, will be submitted to Parliament in September. The ministry said it studied similar legislation in the United States before arriving at its proposal.

The draft law will also give the government the power to liquidate the assets of anyone convicted of financial offenses or of state corruption. If the convict acquiesces, jail sentences could be reduced. The combination of measures is expected to bring about 5 billion euros ($6.5 billion) in revenues into public coffers, sources told Kathimerini.

Apart from providing the government with critical revenues, the new law would also help reduce overcrowding at Greek jails, which the government has promised to address.

Prosecutors are now investigating hundreds of of cases involving suspected corruption, including 12 arms deals, the finances of some 6,000 NGO’s and a number of public works projects. Greece is the number one country in Europe for corruption.


  1. Yea, they have been doing this for years. Remember Kostkotas?!?!?!
    Tzohatzopoulos will be the first to buy off his sentence.

  2. “Greece Goes Easy On Financial Criminals”

    What a surprise. A sensationalist title by Dablis. Andy claims to be against communism but no one can figure out whats the difference between him and communist propagandists like Tsipiras.

    a. Both rant on and on about the “poor pensioners and workers”

    b. Both treasonously lobby for ILLEGALS that violate our sovereign borders. (Andy can’t even say the word Illegals and frames them as “immigrants” for cheap political points at the expense of Greece)

    c. Both have turned a blind eye to rampant violent UNDEMOCRATIC leftwing extremism. (including bombings and endless riots calling for “revolution”… against a democratically elected government)

    d. Both are cowards that say next to nothing to condemn FYROM and its foreign apologists. (Andy writes an article every century on the “minor” issue of a foreign state trying to delete us)

    e. Both irresponsibly resort to hyperbole words like “fascism” and “racism to describe any one in Greek politics not leftists like themselves..

    f. Both rant and rant every time our government makes any sort of cut or raise taxes to attempt to balance a budget. Like typical far leftist fanatics they shamelessly expect others to finance their lifestyle..

  3. “the finances of some 6,000 NGO’s”

    This is a smart move by our government. Too long have some so-called “human rights” NGOs (aka unelected propaganda fronts for foreign nationalists) been given free license to interfere in our domestic affairs. We have to reveal the funding of these organizations to make it more evidence their cause isn’t “human rights”., (as witnessed by the fact these self-righteous Greek hating frauds now pretend not to notice the Skopians “little’ transformation and irredentism)

  4. All the western countries have. No major arrests for LIBOR or Derivatives fraud Only “low hanging fruit” executes get punished and they are often fined instead of imprisoned and the fine is only a percent of what they stole.

  5. Why don’t they begin firstly as they should–probe the Lagarde List. Expose those 20 some “high governmental officials” who were found to be hiding massive tax evasion behind their “housewives.”

    Then and only then should the PUBLIC decide on what punishment is appropriate after few convictions.

    A choice of jail time or a “tax-cheater work camp” with bright orange jumpsuits, names plastered on their backs, and rubber gloves to clean up the countryside is a viable solution. It’s a win-win for the society–punishment, a further deterrent, and we see a cleaner Greece–all in one smart move.

    And we know this will never happen as long as there is even the possibility that any MP will wear that suit.

  6. I have said this many times again and again. The government won’t touch financial criminals because politicians are involved in this matter and if the government goes after these financial criminals θα ξετυλίξουν το κουβάρι and the government doesn’t need a very serious issue right now. They will keep it under rap for as long as it takes.

  7. What do you care about Greeks or Greece Tonto-Ski. As a non-Greek that colludes with former Yugoslavians threatening our country you are hardly in a position to speak for Greeks. Move to FYROM. You will be very popular there.

  8. Alex! Your pills! It’s time. Stay calm. Go back to your ward and watch a Balkan football match.

  9. Medications seem to be on your mind. You keep saying that over and over again.

    Why not instead remind actual Greeks here (i.e. not you) how is it the former Yugoslavians have suddenly become descendents of ancient Macedonians?