Greek authorities have dismantled a criminal network accused of loan sharking, extortion and money laundering in the northern city of Thessaloniki, arresting four suspected members following a coordinated police operation.
According to police, the group had been operating since at least June 2022, offering loans with exorbitant interest rates before intimidating borrowers who were unable to repay their debts.
The investigation, led by the Northern Greece Organized Crime Unit, began after a complaint was filed with authorities. Police say the suspects extended repayment deadlines unilaterally, imposed additional interest charges and used threats and intimidation to extract sums far exceeding the original loan amounts.
Among those arrested are four men aged between 25 and 34, including a 34-year-old believed to be one of the group’s leaders. A second ringleader, aged 31, has been identified and remains at large.
Undercover Operation
The arrests followed an undercover operation carried out on Tuesday, during which police organized the delivery of €20,000 in marked banknotes as part of the supposed repayment of a debt.
A 30-year-old man, described by investigators as an intermediary for the network, collected the money before being arrested at the scene. The cash was seized by police.
Assets and Evidence Seized
Investigators believe the group attempted to launder proceeds from its criminal activities through bank transactions, vehicle purchases, betting accounts and legitimate businesses.
Searches of homes, vehicles and suspects led to the seizure of a car being examined as a possible asset linked to money laundering, €37,280 in cash, 21 mobile phones, numerous SIM cards, electronic equipment, two banknote counting machines, two gold sovereign coins, banking and betting transaction records, handwritten notes, as well as 167 anabolic steroid tablets and 81 injectable vials.
Multiple Criminal Charges
The suspects face charges that, depending on their involvement, include leading and participating in a criminal organization, professional loan sharking, extortion, money laundering, and violations of sports and pharmaceutical legislation, as well as laws governing harmful medicinal products.
The case has been referred to the public prosecutor, while authorities continue searching for the remaining suspect.
