Real estate company denies wrongdoing in Golden Visa-linked property purchases by Chinese brokers

2 November 2018
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The Athens-based company now at the center of scrutiny over alleged Chinese capital control violations linked with residency visa-granting property purchases in Greece on Thursday decried what it called inaccurate information and malicious comments against it.

Destiny Investment, established and owned by Greek executive Evangelos Papaevangelou, said the “obvious goal for certain parties” is to create confusion in public opinion and to undermine the company’s reputation.

An economic prosecutor has been ordered to conduct a preliminary investigation into the case, while National Bank of Greece on Wednesday said it has stopped the POS transfer of funds between China and the company, while also notifying authorities.

Papaevangelou’s resignation from the board of retailer Jumbo was accepted on Wednesday. The company, one of the biggest toy and children’s retailers in SE Europe, also issued an announcement saying it has no involvement whatsoever in its former vice-president’s other business activity.

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  1. Pingback: Greek Golden Visa Firm in Hot Water for Alleged Bypass of Capital Controls in China - Investment Migration Insider

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