Former Mayor Of Second Largest Greek City Sentenced To Life For Embezzling €17 Million

Tyler Durden's picture

Now here is a headline one will never find in the US: "Former mayor, local officials sentenced to life for embezzlement."

This headline comes from Greece, which due to the country's insolvency, is finally back to the anachronistic practice of holding elected officials in positions of power accountable for their actions because the people are understandably angry and seek justice. Other "developed" countries have the luxury of distracting the public with such trivial sideshows as the Criss Angel school of levitating wealth effects and other illusions which have managed to delay the day of comparable reckoning for now. Hopefully Bernanke can continue his wholesale assault against savers for years and years, or else one may just get the US mainstream media reporting of such atrocities against the status quo in the US.

From AP:

A court in the northern Greek city of Thessaloniki has convicted three of the city's former top officials, including a former mayor, and sentenced them to life imprisonment for embezzling more than €17 million from the municipality.


Former mayor Vassilis Papageorgopoulos, who was also previously a junior government minister, insisted he had not been involved in any embezzlement. The municipality's former general secretary, Mihalis Lemousias, and former treasurer Panagiotis Saxonis were also given life sentences.


All three are to be jailed later Wednesday.


Two former financial directors were sentenced to 10 and 15 years each, and were released pending their appeal.

And the man with the lots of letters in his name himself who wishes he was in Zihuatanejo:

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Oldwood's picture

Hey, give the guy a break! Its just part of his employment package with retirement and severance rolled in. Nothing a good American public servant would do for himself through collective bargaining, right?

lemarche's picture


DaveyJones's picture

just broken plates compared to american crimes

SillySalesmanQuestion's picture

Memo to banksters and politicians: This too, could be you....

Nah, we won't let them off that easy.

P.S. Fuck You Jamie Dimon!

Rogue Trooper's picture

P.S.S  That useful idiot Krugman is MINE.  Nice and slow....

ejhickey's picture

i have to take issue with the article's conclusion that government officials are NOT punished in the US  for financial crimes such as embezzlement.   note the following"

"ROCKFORD, Ill. — A former city bookkeeper was sentenced to nearly 20 years in prison Thursday for embezzling more than $53 million from her Illinois community, in what ranks as one of the worst abuses of public trust in the state's corruption-rich history."

this is the first of several trials and sentences she faces.  next she will be prosecuted by the Feds.   true it is not a life sentence but given the fact that she is in her late 50's  it looks like she will be spending much of her golden years in some type of prison.

ten there is the case of Jesse jacson jr who has pleaded guilty to theft of campaign funds and will be spending 4-5 yrs in jail.

Wequetonsing324's picture

Here in Illinois, we carefully watch our political class, except when we don't


Rita Crundwell Sentencing: Nearly 20 Years For Ex-Comptroller Who Stole $53 Million From Town  (Dixon,IL)


Bandit und Buster's picture

Small fish, she's expendable and NOT a jew or a mason.

rustymason's picture

She didn't spread it around the right places.

lolmao500's picture

Bullish news...

Israel: Hizbullah got Scud D missiles from Syria with 700 km range

China moves mobile missiles near coast amid tensions with Japan over islands

United States intelligence agencies recently detected China’s military shifting road-mobile ballistic missiles closer to its southern coast near the disputed Senkaku Islands amid growing tensions between Beijing and Japan over the islands dispute.

U.S. defense officials said the movements are being watched closely as China’s military is also holding large-scale military exercises that some fear could be a trigger for a conflict with Japan that could involve U.S. forces.

So it's confirmed...

And there's credible reports of heavy fire/fire bombs activity in Cairo...

Shit going down fast...

Bandit und Buster's picture

When the Rothchild/Zionist banksters want war we WILL have war!

"‘We’ve been fighting a war for the past 18 months, which is the harbinger of World War III. The world is going to fight, whether they like it or not.  I’m sure,’  Ra’anan Gissin, a senior adviser to [Israeli Prime Minister Ariel] Sharon, said n an interview Friday." Stephanie Innes, Arizona Daily Star, March 18, 2003

Joe A's picture

His cell mate is Bubba the Greek. Bring plenty of soaps on your way to jail mr. mayor.

Catullus's picture

We don't embezzle money in the US, we "invest in green energy".

Yen Cross's picture

   At least he's guaranteed 3 hots' and a cot, for the rest of his life. The rest of the Greeks should hope to be so lucky. The irony<

Bandit und Buster's picture


"At least he's guaranteed 3 hots' and a cot..." 

You've never been to prison I can tell!  If you like to eat shit and freeze your ass, check in sometime. I have family in low-security camp (anyone can get nabbed for 'conspiracy') and they know how to make you miserable and feed you spoonsize shit and garbage. and medical care? Ha! you'll do better going to an african witch doctor. 

I hear greek prisons are a lot worse.  Hanging these guys would probably be doing them a favor.

savagegoose's picture

i hope he likeas it greek style

rustymason's picture

Of course he does, he's Greek!

Peter Pan's picture

The former mayor was once Greece's top sprinter as well as a medal winner at various European games.

Now at last they have caught up to him.

The problem for Greece is that these sorts of sentences should have been handed out earlier and more often as a warning to others and as an assurance to the masses that justice is in fact blind and not just cross eyed.

Unfortunately this will not cure the system given the quadruple barrelled schizophrenia of austerity, tax increases, wage and pension cuts and unemployment. How any nation is supposed to gain traction under such circumstances is beyond me.

CDNX fan's picture

Was he not ex-Goldman in charge of Compliance? or was it JPM?

wisefool's picture

Timmah has recently been admitted to the CFR and is ready to be ambassador to greece such that they can properly enforce taxation to prevent this type of malfeasance.

Keynes admitted that the purpose of taxation in his model is to prevent bubbles by way of actors being taxed if they decide to do so. /sarc

buzzsaw99's picture

Greece leads the way on law and order in the world. What a sad commentary.

Hacksaw's picture

If the Greeks stay on this path their economy and country will improve.

Fubared's picture

Not bad actually, someone got held accountable for something.

Damn, there goes my armageddon vision.


lolmao500's picture

One headline I would like to see :

Former presidents Bill Clinton, Bush Sr., Bush Jr. and Obama scheduled to be executed by hanging for treason this evening at 8PM EST live on all tv channels.

JohnGaltsChild's picture

So, what do you think? This guy got any chance of getting on the Fed Board?

22winmag's picture

Didn't the ancient Greeks have a system where public officials could be held liable up to 7 years after leaving office?


In America, criminal politicians get a free pass before, during, and after office.

Gimp's picture

U know what Marc Faber says - "governments are inherently evil"

If you look at the last century death toll he may be on to something.

rustymason's picture

This Greek guy is a piker. Rita Crundwell stole $53 million all by herself from the little town of Dixon. If you're gonna steal, steal big. To paraphrase The Donald, if you steal $17 or $53 million, they own you, but if you steal $1 trillion, then you're Too Big To Fail.

Marley's picture

"The fraudulent conversion of another's property by a person who is in a position of trust, such as an agent or employee."

Look out Wall Street, Money Managers, Financial Advisors, marketer of "commodities", et alii!

tony bonn's picture

i am glad to see justice served, but it's too bad the bigger sharks are still free spreading financial sure would be nice to see jamie 'i am richer than you' dimon in an orange jumpsuit for life. however, from what i understand, he is under interpol investigation and probably has a death warrant hanging over him....

torabora's picture

 Well maybe Executive Outcomes has a new job now?