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Head of Greek Investigation Into Bank Scandal Dies

December 24, 1988

ATHENS, Greece (AP) _ Spyros Papadatos, the government-appointed bank commissioner investigating the biggest financial scandal in Greece’s history, died Friday of a heart attack. He was 53.

Police said Papadatos was declared dead upon arrival at an Athens hospital after being stricken at home.

He had been scheduled to release on Friday a list of depositors at the Bank of Crete, including state enterprises, as part of his investigation.

Papadatos, an official of the nation’s central bank, was appointed to investigate the widening scandal at the Bank of Crete on Oct. 18.

In a preliminary report, he disclosed that at least $300 million of bank funds were either missing or mismanaged and accused the bank’s chairman, George Koskotas, of fraud and embezzlement.

Koskotas, 34, was suspended as chairman but fled Greece on Nov. 6 and eventually went to the United States, where he was arrested. He is in a Boston jail awaiting an extradition hearing.

The scandal has implicated ranking members of Premier Andreas Papandreou’s socialist government, prompting seven ministers to leave. Several quit to protest government handling of the investigation, alleging that a cover-up was under way to protect senior Socialist Party officials.

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