Greek Racing Boss Arrested Over $102m Debt

Friday, 3rd February 2012

In Athens Alexandros Zaharis, chief executive of Greece's state-controlled ODIE (Horseracing Organization Of Greece) "was arrested on charges the corporation withheld taxes & owed the already cash-strapped government €83 million (A$102m)" reported racingpost.com. Faced with "widespread tax evasion & an inefficient tax collection system, the government has toughened tax fraud laws & started a crackdown on debtors, identifying more then 4,000 individuals who allegedly owe up to €1 billion (A$1.23bn) in taxes. ODIE "is scheduled for privatisation later this year, under government plans to sell or lease €50 billion (A$61.5bn) worth of state assets by 2015".

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