Age, Biography and Wiki

George Koskotas was born on 5 October, 1954 in Athens, Greece, is a Greek businessman (born 1954). Discover George Koskotas's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 69 years old?

Popular As N/A
Occupation Former banker and publisher
Age 69 years old
Zodiac Sign Libra
Born 5 October 1954
Birthday 5 October
Birthplace Athens, Greece
Nationality Greece

We recommend you to check the complete list of Famous People born on 5 October. He is a member of famous Former with the age 69 years old group.

George Koskotas Height, Weight & Measurements

At 69 years old, George Koskotas height not available right now. We will update George Koskotas's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
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Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
Parents Not Available
Wife Not Available
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Children Not Available

George Koskotas Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is George Koskotas worth at the age of 69 years old? George Koskotas’s income source is mostly from being a successful Former. He is from Greece. We have estimated George Koskotas's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income Former

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Timeline

1954

George Koskotas (Γιώργος Κοσκωτάς; born 5 October 1954, Athens) is a former banker and publisher who spearheaded a financial scandal that brought down the PASOK government in 1989.

Koskotas was born in Greece on October 5, 1954.

1970

He emigrated to the United States with his parents in 1970 and worked for his father's house painting business in Queens, New York until 1979 when he returned to Greece.

1979

In 1979, Koskotas joined the Bank of Crete as an administrative officer.

1980

In 1980, Koskotas was indicted on charges of defrauding the Internal Revenue Service and the New York State unemployment office of $41,000 in a scheme to falsify unemployment insurance claims and obtain tax refunds from fictitious workers of his company.

1982

From 1982 to 1984 he worked in the bank's central branch in Athens as an accountant.

According to the investigation, Koskotas embezzled $210 million of the bank's funds into his own account, which he used to gain control of the bank, build a publishing business that included two daily newspapers in Athens, five magazines, and a radio station, and purchase Olympiacos F.C. Under Koskotas' leadership, the Bank of Crete grew from a small financial institution into the nation's second largest bank.

Koskotas was arrested in the US for older crimes.

From there, he claimed that prime minister Andreas Papandreou ordered state companies to deposit funds with the bank, and took bribes from stolen money.

Koskotas allegations against the Papandreou government resulted in the resignations of several ministers and demands for a vote of no confidence in the government.

1987

He was arrested on the charges in 1987 while he was attending a newspaper editors' convention in Washington D.C. He posted $1 million in bail and returned to Greece.

1988

On October 20, 1988, Koskotas was indicted on five counts of forgery and embezzlement and was suspended from the position of bank chairman.

On November 7, he eluded a 24-hour guard at his house and fled the country.

He picked up his wife and five children in Switzerland.

From there the Koskotas family went to Rio de Janeiro.

On November 24, Koskotas and his family were apprehended by the Federal Bureau of Investigation in Bedford, Massachusetts after landing in a private jet at Hanscom Field.

After his arrest, Koskotas was jailed at the Essex County Correctional Institution in Salem, Massachusetts.

He was later transferred to Federal Correctional Institution, Danbury in Danbury, Connecticut.

After his arrest, Koskotas fought his extradition, arguing that the charges were political and that he would face assassination if returned to Greece.

1989

In 1989 a 13-judge court set up by parliament convicted two former cabinet ministers of involvement in the scandal.

On August 24, 1989, United States magistrate judge Joyce Alexander ordered that Koskotas be extradited to Greece to face charges.

1990

Alexander's decision was upheld by United States district court judge Douglas Woodlock on June 27, 1990.

1992

Papandreou was cleared of all charges by the Supreme Court in 1992 (with a 7 to 6 vote)

In January 1992, Koskotas was convicted of forgery and sentenced to five years in prison.

1994

In November 1994 he was found guilty of embezzlement and forgery and sentenced to 25 years in prison.

2001

He was paroled and released from prison on March 16, 2001 after serving 12 years of his 25-year sentence.

Koskotas is barred from leaving the country and was ordered to report to an Athens police precinct twice a month.