Greece: Former finance minister granted bail

Associated Press + More

ATHENS, Greece (AP) — A former Greek finance minister has been granted bail of €50,000 ($66,000) after testifying before a public prosecutor investigating allegations that he submitted false income declarations to tax authorities.

Court officials said Wednesday that Yannos Papantoniou's wife, Stavroula Kourakou, was also granted bail of €20,000 ($26,000).

Papantoniou served as Socialist minister of finance and national economy between 1994 and 2003. He is facing a maximum sentence of five years in prison after authorities said he failed to declare money under his wife's name in an overseas bank account.

The 63-year-old Papantoniou says the money was moved to that account from other bank accounts covered by his tax declarations.

No date for his trial has been set.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.