Word: papandreou
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...knew exactly where he wanted to go. The Socialists were immersed in an election and Koskotas was determined to curry favor. Within a few months he hired as bank general manager a PASOK veteran, Panayotis Vakalis, whom he knew to be a longtime friend of Andreas Papandreou's. The connection eventually brought the young banker and the Prime Minister together. The great swindle was under...
...years, says Koskotas, payoffs went to the party, none to Papandreou himself. Then a pivotal event occurred. In October 1987, Koskotas traveled to Washington to attend a White House luncheon at which Vice President George Bush was the host. Secret Service agents, checking invitations, were surprised to discover that the guest from Greece was under a six-year-old federal indictment. They arrested Koskotas at his Washington hotel. The banker posted bail of $1 million. A few days later, to get home, Koskotas lied to Greek embassy officials and obtained a travel document...
Only three weeks later, Koskotas says, he was summoned by Papandreou. It was apparent to Koskotas that something was wrong. Sternly the Prime Minister warned that because of the passport violation, Koskotas might have to go to jail. Eventually Papandreou declared Koskotas need not worry. But there were certain requirements. An election was coming, the Prime Minister stressed, and PASOK needed 5 billion drachmas ($33 million). Thereupon, says Koskotas, Papandreou bluntly described a much expanded plan for kicking back interest payments. Koskotas, he directed, should work out the details with Deputy Prime Minister Koutsogiorgas. Says Koskotas, sounding surprisingly disingenuous...
...weeks later, Koskotas says, the first direct request for money came by telephone from Papandreou. The Prime Minister wanted 200 million drachmas ($1.3 million), purportedly to pay the expenses for a PASOK youth festival. Georgios Louvaris would drop by. In the following months, says Koskotas, Papandreou made two other personal calls for cash, each for 150 million drachmas ($1 million), for what he described as PASOK events. Otherwise the Prime Minister received a weekly delivery of around 75 million drachmas...
Throughout last week TIME sought comments and answers from government officials -- including Prime Minister Papandreou -- on the accusations in this story. When all refused to be interviewed, a list of questions was submitted to them. TIME did not disclose that it had interviewed Koskotas, but made clear that it was publishing a major story that contained serious and damaging allegations. Papandreou did address the affair in a Feb. 14 memorandum to investigators. He said he met Koskotas only three times, at the banker's initiative, between March 4, 1987, and June 30, 1988, during which the two discussed only Koskotas...