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Greek Defense Minister Gets 8 Years For EUR100,000 Hidden Assets

Tyler Durden's picture




 

Yet again, the Greeks are coming down hard in a very un-American manner, on the body politik's misbehavior. Following our comments last week on the life sentence for the Greek Mayor who embezzled EUR 17mm, eKatherimini reports, former Greek Defense Minister Akis Tsochatzopoulos has been sentenced to eight years in jail for failing to declare his assets properly over the last few years. While not on the same scale as the mayor's fraud, The ex-minister failed to declare 47,000 euros of assets in 2006, 33,000 in 2007 and 20,000 in 2008. The property has been seized and Akis is not allowed an appeal but the story doesn't end there for he also faces a separate trial for embezzlement of taxpayers' money.

 

Via ekathermini,

Former Defense Minister Akis Tsochatzopoulos was sentenced to eight years in jail and fined 520,000 euros on Monday.

 

Tsochatzopoulos appeared before a criminal appeals court in Athens charged with failing to declare his assets properly over the last few years.

 

He was found guilty of not filling in properly his derivation of wealth (pothen esches) forms between 2006 and 2009.

 

The ex-minister failed to declare 47,000 euros of assets in 2006, 33,000 in 2007 and 20,000 in 2008.

 

Also, he did not notify tax authorities that his wife Viki Stamati, also in custody, bought in 2009 the couple’s luxury home close to the Acropolis.

 

The court ordered that the property be seized. Judges also ruled that he cannot appeal his sentence.

 

Tsochatzopoulos faces a separate trial for the alleged embezzlement of taxpayers’ money when he was defense minister in the late 1990s and early part of the last decade.

 

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Mon, 03/04/2013 - 13:18 | 3298128 Its_the_economy...
Its_the_economy_stupid's picture

Bend over.

Mon, 03/04/2013 - 13:18 | 3298132 BandGap
BandGap's picture

He looks like Boris Karloff.

Mon, 03/04/2013 - 13:26 | 3298154 redpill
redpill's picture

Of course the Greeks can't afford to keep the prison open so....

Mon, 03/04/2013 - 13:36 | 3298185 camaro68ss
camaro68ss's picture

It will be a wet dream before we start jailing bankers

Mon, 03/04/2013 - 13:41 | 3298196 azzhatter
azzhatter's picture

In other news, Obama is golfing with Jamie Dimon

Mon, 03/04/2013 - 14:08 | 3298293 Xibalba
Xibalba's picture

And Corzine.  

Mon, 03/04/2013 - 14:00 | 3298268 Stuck on Zero
Stuck on Zero's picture

Amazingly, Greece is bankrupt and the citizens without work and medicine, and yet Greece needs to own and maintain submarines and the worlds largest hovercraft military assault vehicle: http://www.youtube.com/watch?v=xOkrXimRnSc.

Want to bet that his bank cash started as Rubles?

 

Mon, 03/04/2013 - 14:41 | 3298386 Nobody For President
Nobody For President's picture

Looks like a Hummer to me coming out of that hovercraft...was not all rubles...

Mon, 03/04/2013 - 14:47 | 3298407 Rusty Diggins
Rusty Diggins's picture

Now THAT'S a Trojan horse.

Mon, 03/04/2013 - 19:26 | 3299252 godzila
godzila's picture

Well they actually have a grand total of two of those beasts... not saying they really need them but probably not the worst money spent in Greece....

Mon, 03/04/2013 - 13:27 | 3298158 DblAjent
DblAjent's picture

Bend Over

 

Too easy. That's already practiced there.

Mon, 03/04/2013 - 13:32 | 3298171 Lord Blankcheck
Lord Blankcheck's picture

How do you seperate the "gays" from the "straight" people in Greece?

 

 

 

....with a crowbar.

Mon, 03/04/2013 - 13:53 | 3298237 Jack Sheet
Jack Sheet's picture

and what is the difference between a faggot and a deep-freeze?

The freezer doesn't sqeak when you pull the meat out.

Mon, 03/04/2013 - 19:03 | 3299191 TeMpTeK
TeMpTeK's picture

Charlie Rangel's lucky he aint greek..

 

Mon, 03/04/2013 - 13:18 | 3298130 Jack Sheet
Jack Sheet's picture

He evidently hasn't the right connections.

Mon, 03/04/2013 - 13:24 | 3298152 Jack Sheet
Jack Sheet's picture

ERRATUM

"Also, he did not notify tax authorities that his wife Viki Stamati, also in custody, bought in 2009 the Acropolis, close to the couple’s luxury home"

Mon, 03/04/2013 - 13:18 | 3298131 Vashta Nerada
Vashta Nerada's picture

If he had been an American, he might be in line for the Treasury job.

Mon, 03/04/2013 - 13:26 | 3298149 JustObserving
JustObserving's picture

Only criminals need apply:

Warren Buffett believes JPMorgan Chase CEO Jamie Dimon would be the best pick for Treasury secretary.

Nov 27, 2012

http://money.cnn.com/2012/11/27/news/economy/buffett-dimon-treasury-secr...

 

Mon, 03/04/2013 - 13:20 | 3298139 Dr. Engali
Dr. Engali's picture

He should have used Turbo Tax.

Mon, 03/04/2013 - 13:23 | 3298146 InTheLandOfTheBlind
InTheLandOfTheBlind's picture

We wouldn't have a single judge on the bench if the US upheld its courts to these standards.

Mon, 03/04/2013 - 15:24 | 3298526 Sabibaby
Sabibaby's picture

This is why we buy guns and ammo and learn to tie linches. 

Mon, 03/04/2013 - 13:28 | 3298157 Eally Ucked
Eally Ucked's picture

100 k of assets hidden and he gets 8 y, is that a joke? If they applied the same law all over Europe they would lock up all those fuckers for life. What about US?

Mon, 03/04/2013 - 13:51 | 3298235 Political_Savage
Political_Savage's picture

Why not just turn Europe into one big jail - the Germans could act as guards. Wait, I think they tried this before, once or twice...

Mon, 03/04/2013 - 15:14 | 3298498 Ghordius
Ghordius's picture

ehmm... we are keeping our prison population stable since decades - some other countries aren't

Mon, 03/04/2013 - 15:29 | 3298541 Jack Sheet
Jack Sheet's picture

...at the risk of appearing schoolmasterly:  it's "for decades"

Cheers JS

Mon, 03/04/2013 - 13:29 | 3298163 DCFusor
DCFusor's picture

As that greek comedian said awhile back, "Geeenius, geenious, geeenus!".  We should take their example and bust a few more - even the lower level scapegoats would be a start, we've only done a couple of 'em and need to do a lot more.  If we are too timid (we are) to start at the top, at least we can work up from where we are.

Mon, 03/04/2013 - 13:33 | 3298176 Theta_Burn
Theta_Burn's picture

Have to be a little more creative in hiding assets than purchasing a luxury home next to the  Acropolis.

Arrested for stupidity and lack of creative dispersment of assets

The days of low hanging fruit are over i guess

Mon, 03/04/2013 - 13:37 | 3298187 Longtermnotreally
Longtermnotreally's picture

Whose ass didn't he kiss??

Mon, 03/04/2013 - 13:56 | 3298256 Theta_Burn
Theta_Burn's picture

These are low level shleps being thrown to the lions

It will work....

Mon, 03/04/2013 - 14:14 | 3298313 W74
W74's picture

Defense Minister is low level sheep?  I'll say not, but there is indeed someone higher who wanted him to go down, that's for sure, either that or he simply failed to kiss enough ass and/or "Greece" enough palm.

Mon, 03/04/2013 - 14:29 | 3298355 Theta_Burn
Theta_Burn's picture

Defense Minister yes, Former Defence Minister not so much

 

Mon, 03/04/2013 - 15:31 | 3298546 Jack Sheet
Jack Sheet's picture

didn't pay his "doos"

Mon, 03/04/2013 - 13:41 | 3298191 Lord Of Finance
Lord Of Finance's picture

Obuma wants us to be more like Europe? Of course he does and much more! So why won't his henchmen at The Department of Injustice/SEC  follow their example and start prosecuting these criminals right here?

 

Because to follow that example all the way through would lead to every last one of 'em, including Obuma and Holder themselves, straight from the white house to the 'big house'.

Mon, 03/04/2013 - 14:38 | 3298377 InTheLandOfTheBlind
InTheLandOfTheBlind's picture

I just see the word Holder in your post and my blood boils.  I have not dispised the attorney general this much since john ashcan.....  just had to vent

Mon, 03/04/2013 - 13:40 | 3298192 Dr. Engali
Dr. Engali's picture

Right now I'm eating a turkey sandwich for lunch and the only thing that I can think of us .........Am I really eating turkey? Or is it something else?

Mon, 03/04/2013 - 14:26 | 3298343 Bingfa
Bingfa's picture

A neighbor works at a cheese processing plant.... the stories he tells me, holy shit.

 

Mon, 03/04/2013 - 13:43 | 3298200 skistroni
skistroni's picture

He's not a small fish, he's in the big league.

Don't forget that the house his wife bought (on the pedestrian road leading to the Acropolis and facing the monuments) is worth several millions. 

The amounts mentioned are peanuts compared to the money that he had handled (a few tens of billions) but that is what could be proven without any doubt. There are still ongoing investigations for several offshore companies set up by his friends and relatives which siphoned tens of millions from the goverment's accounts. 

The problem is that the total costs of the investigations and the trials (not to mention feeding him in prison which would make me sound petty and ommitting as well the productivity costs of millions of Greek people cursing and talking about him every day for years) are hardly recoverable even if they manage after many years to seize all his direct and indirect assets. 

A wasted life or a life of waste from beginning to the end. 

Mon, 03/04/2013 - 13:56 | 3298255 Jack Sheet
Jack Sheet's picture

+10 good to hear information nearer the source, thanks

Mon, 03/04/2013 - 15:00 | 3298453 NotApplicable
NotApplicable's picture

Simply put, there are NO politicians in big leagues unless they were already there before assuming office.

Besides, the idea that what's his name out ranks O'bummer is ridiculous (someone else NOT in the big leagues either).

He may have though himself a big fish, but as he's finding out, he was just the bait.

Mon, 03/04/2013 - 13:45 | 3298207 syntaxterror
syntaxterror's picture

Too bad for that guy that Greece isn't as corrupt as 'Merica where he would have agreed to "pay" a fine while not admitting any guilt.

Mon, 03/04/2013 - 13:48 | 3298217 Yen Cross
Yen Cross's picture

   One can only hope some of that harshness is exported to American courts. There's only one problem. We would have to jail a large portion of the US population for tax evasion and cheating.  [Monkey see monkey do.]

    http://money.howstuffworks.com/only-53-percent-pay-income-tax.htm

 

Mon, 03/04/2013 - 13:49 | 3298223 Lord Of Finance
Lord Of Finance's picture

If that is processed turkey you are eating, then it might later to be discovered to contain 40% traces of racoon/road kill.

 

 

Mon, 03/04/2013 - 14:21 | 3298331 smacker
smacker's picture

 

 

Eight years in jail?

Have they built a jail on the beach at Glyfada?

Mon, 03/04/2013 - 14:23 | 3298335 Peter Pan
Peter Pan's picture

There must be some mistake in this piece of news. The man is guilty of far more than just a 100,000 euros of undeclared income.

Either this is an error or the government and the judiciary are doing a snow job on the public.

This stinks to high heaven.

Mon, 03/04/2013 - 19:28 | 3299260 godzila
godzila's picture

Agreed - regardless of what else he is suspected of, 8 years in jails for that conviction is ridiculous. And what is that bit about the sentence not being subject to appeal ?!

Mon, 03/04/2013 - 14:28 | 3298352 Zola
Zola's picture

On the contrary, he was showing greeks the good example but no giving money to the corrupt government. Just like corporate insder buying and selling is an indication, here the filing (or not) by the govt officials is an indication of the corruption !!

Mon, 03/04/2013 - 14:29 | 3298356 docj
docj's picture

The most surprising thing I learned from this story is that Greece has sufficient military that it requires oversight of a Defense minister. < /sarc >

Mon, 03/04/2013 - 14:47 | 3298405 AUELOX
AUELOX's picture

OH, HELL YES!!!

Mon, 03/04/2013 - 14:50 | 3298421 mendigo
mendigo's picture

A little over the top I think.
I mean if things were balanced, what would this imply for the honorable Mr corizine?

Mon, 03/04/2013 - 15:03 | 3298460 FubarNation
FubarNation's picture

What a joke. 

100K in Euros - that is fuck all. 

Someone must have really, really pissed the wrong person off.

Shit I bet many, many here have more than that 'off the books'.

Mon, 03/04/2013 - 15:34 | 3298468 NuYawkFrankie
NuYawkFrankie's picture

Only 100k euros????

My... my.. standards ARE slipping !

 

He shoulda opened a Cattle Futures Trading Acct with Hillary's broker...

Woulda been able to parley that measely 100k ("left -over" campaign-contribution Chump Change to anyone in Congress) into a cool 10million in no time.. and then declare the original 100k before anyone was the wiser

Geezzz... even with Hillary's 75% Of Profits "Referral Fee", he's still ahead of the game. Sucker.

 

 

Mon, 03/04/2013 - 15:09 | 3298480 Manipulism
Manipulism's picture

Why only this guy?

There are tousands in Greece.

Nonone declares assets over 20000 eur.

Not even billionaires.

 

Mon, 03/04/2013 - 15:12 | 3298492 AnAnonymous
AnAnonymous's picture

Because he was an explicit servant to the 'american' middle class aka We The People.

Mon, 03/04/2013 - 15:11 | 3298489 AnAnonymous
AnAnonymous's picture

Indeed. Very un-american dealing of the situation.

In an 'american' society, you do not punish people for behaving the 'american' way.

Greeks should be on the look out.

Mon, 03/04/2013 - 15:15 | 3298500 q99x2
q99x2's picture

Troika punishing military leaders.

Mon, 03/04/2013 - 15:38 | 3298548 GeorgeSA1961
GeorgeSA1961's picture

<<<<>>>>. = approx. 800,000,000 euros !!!

Mon, 03/04/2013 - 15:43 | 3298581 walküre
walküre's picture

Until a few Papas are hanging by the necks, it's just child's play.

Mon, 03/04/2013 - 16:02 | 3298654 theprofromdover
theprofromdover's picture

A Greek Defense Minister who appears not to have profited from the 2 submarines order to Germany?

Akis Turassalotus.

Mon, 03/04/2013 - 16:26 | 3298734 Totentänzerlied
Totentänzerlied's picture

And Corzine, Dimon, Blankfein, et al are free. This is a distraction.

Mon, 03/04/2013 - 18:34 | 3299120 Pseudo Anonym
Pseudo Anonym's picture

in through the front door, just for the appearance' sake of justice, out through the back door.  and the greeks are so dumb to buy it

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