One of the most influential ministers in successive PASOK governments up until 2004, Yiannos Papantoniou, was remanded in custody on Tuesday evening, following his marathon deposition before investigating magistrates and a prosecutor on felony kickbacks and corruption charges.
His wife, Stavroula Kourakou, was also jailed pending trial on one count of legalizing proceeds from an illegal activity, the official term for money laundering.
Papantoniou served as finance minister in the late 1990s and then as defense minister up until 2004.
A voluminous indictment involves revolves around an allegation that he received illegal payments totaling 2.8 million Swiss francs in relation to a contract to upgrade six Hellenic Navy frigates.
The ex-minister reportedly provided sworn testimony over the course of 12 hours; five hours by his wife.
According to reports, Papantoniou claimed the Greek state would have incurred damages of three billion euros had he not signed the specific contract, while also maintaining that he received no benefits whatsoever from the specific defense procurement.
