Yiannis Sbokos, 61, has been arrested for his involvement in kickbacks relating to armaments procurements. He is a close associate of former PASOK Defence Minister Akis Tsochadzopoulos who has been charged with money laundering.
According to the
Guardian Tsochadzopoulos was charged with accepting an €8m bribe from German submarine company Ferrostaal earlier this year. Sbokos is allegedly part of the group involving the former Defence Minister which
Ekathimerini reports is "linked to kickbacks and money laundering amounting to some 80 million euros from arms sales."
According to
Athens News German shipbuilding company Howaldtswerke-Deutsche Werft provided the kickbacks.
Economists have estimated that Greece has spent around €150 billion on armaments over the last decade, much of it from Germany.
