A Canadian national wanted on an international arrest warrant issued by the US authorities was arrested on Monday by Financial Crimes police at the Athens’ coastal district of Paleo Faliro.
The 58-year-old Canadian is being charged of setting up a criminal organisation and of committing stock market and electronic fraud.
Police said that the suspect is alleged to be the mastermind of a criminal organisation which acted from March to October 2008 in Pennsylvania and in other US states.
According to US police the organisation raised over 8 million US dollars.
The Canadian, being president and director of a company and shareholder in two other firms, used those enterprises as ‘vehicle’ to carry out fraud via a “pump and dump” scheme.
The accused was sent to an Athens prosecutor and afterwards to prison.