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Thessaloniki: Authorities Net Loan Sharking and Extortion Ring – How They Operated, Four Arrested
🇬🇷 Greece /Crime & Justice

Thessaloniki: Authorities Net Loan Sharking and Extortion Ring – How They Operated, Four Arrested

From Ta Nea · () Greek

Translated from Greek, summarized and contextualized by DistantNews.

At a glance

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  • Authorities in Thessaloniki, Greece, dismantled a criminal group involved in loan sharking and extortion.
  • The group allegedly lent money at usurious rates, then pressured and threatened debtors who couldn't repay.
  • Four members were arrested, and investigations revealed attempts to launder illicit profits through various businesses and transactions.

Police in Thessaloniki, Greece, have dismantled a criminal organization accused of operating a loan sharking and extortion ring. The group allegedly provided loans with exorbitant interest rates, then resorted to intense pressure and threats against borrowers unable to meet their repayment obligations. Four individuals, aged 25 to 34, were arrested during an operation, with authorities identifying a second alleged leader, aged 31, who remains at large.

The parliamentary seats are not the personal property of anyone.

— SYRIZA Political Secretariat sourcesExplaining that seats belong to the party and voters, not individuals.

The investigation began following a complaint that revealed the ring's activities dated back to at least June 2022. The suspects reportedly offered loans, and when borrowers struggled to repay, they unilaterally extended payment deadlines, imposing new interest charges. This practice aimed to extract significantly larger sums than the original principal amount.

Will the today-independent lawmakers be candidates on the lists of the Greek Left Cooperation in the next national elections?

— SYRIZA Political Secretariat sourcesDirecting a question to the Greek Left Cooperation and Alexis Tsipras.

Authorities also discovered that the accused members attempted to legitimize their illegal earnings. They allegedly funneled money from their criminal activities into bank transactions, vehicle purchases, betting accounts, and legitimate businesses. During a police operation last Tuesday, a sting involving marked bills totaling 20,000 euros was conducted to simulate a debt payment. A 30-year-old man, believed to be a mediator for the group, was apprehended while receiving the money.

part of a premeditated plan for political destabilization and dissolution of SYRIZA

— SYRIZA Political Secretariat sourcesDescribing the potential motive behind the lawmakers' departures.

Searches of suspects' homes and vehicles yielded substantial seizures, including approximately 37,280 euros in cash, 21 mobile phones, numerous SIM cards, electronic equipment, two banknote counters, two gold coins, and records of bank transactions and betting winnings. Additionally, handwritten notes and a significant quantity of anabolic steroids were confiscated. The arrested individuals face charges including leading and participating in a criminal organization, professional loan sharking and extortion, money laundering, and violations of sports and pharmaceutical laws.

open invitation to all who left due to the climate of internal destabilization and the prolonged crisis to return to their political home

— SYRIZA Political Secretariat sourcesAppealing to former members to rejoin the party.
DistantNews Editorial

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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