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Former Hellenic Postbank CEO appears in court in Athens in unsecured loans case

The former head of a Greek bank at the center of a criminal investigation appeared in court in Athens Monday to answer questions over allegedly unsecured loans that prosecutors say resulted in losses of 500 million euros for the bank.

Angelos Filippidis, Hellenic Postbank's CEO from 2007 to 2010, has been in custody since returning last week from Turkey, where he had been held for more than three weeks pending a Greek request for extradition.

The extradition request was rejected and Filippidis returned to Athens of his own accord after his release. He denies any wrongdoing.

About 30 former Postbank officials and businessmen face criminal charges, including fraud and money laundering, over the loans which prosecutors say were unsecured and incorrectly approved.

"I'm going to fight for the obvious so that banks can do their jobs," Filippidis told reporters as he was led into the courthouse. "If I lose, then prosecutors will be approving loans."

Hellenic Postbank merged last year with Greece's Eurobank under a program restructuring the financially struggling country's banking sector.