500 million dollars "heritage" through fraternal dispute...

The way in which family members of Angelopoulos managed to claim the family property created by their ancestors, is known and their legal dispute has been a major issue.
However, the whole process, by which the brothers, George and Panayiotis Angelopoulos, sons of Konstantinos, became the recipients of a huge inheritance, never seemed to bother.

Newsbomb.gr today brings to light the affidavit of the witness Nikolaos Pharmakis economist, personal representative and partner of the late Panagiotis Th. Angelopoulos, grandfather of the current owners of the “Halyvourgiki”steel factory and of Olympiacos BC.

Nikolaos Pharmakis, in his testimony on March 21, 2008, in Athens Notary, Liakakos Theodore Constantine, after calling of the lawyer Nicholas Gorgias, who was responsible for finding consensual solutions between the two brothers, (Theodore and Konstantinos), in their dispute (from 17/01/1997), made a series of revelations.
These revelations were about the end of the dispute between the two brothers and the acquired of Konstantinos Angelopoulos, father of the current owners of Olympiacos BC and "Halyvourgiki" steel factory.

According to Nikolaos Farmakis:

"The lawyer Nicholaos Gorgias, -in the context of the actions of finding consensual solutions between the two brothers in a "desperate attempt" by 01.17.1997 at the beginning of the dispute (as written in the arrangement of archiving, by the District Attorney of Athens, Mrs Adeilini), given to me by Mr. Georgias-, he wrote and sent, (except those to Theodore), about -if I remember rightly-, 770 (seven hundred seventy) letters and extrajudicial notices to Mr. Panayiotis Angelopoulos, father of two disputant. Later on he wrote and presented at various intervals, four (4) actions against Theodore, because, as claimed, the non-compliance with the agreements that followed the resignation of each legal action for the requested amount of $ 687 million USA except the fourth sue, requesting Accountability for forty-four (44) of the Companies of 'Group Angelopoulos' in Greece, Swiss, Liechtenstein and Liberia. Later as I learned, he made legal actions for the request of billion dollars with another lawyer".

Even more interesting, however, are the following parts of the affidavit of the witness Nicholas Pharmakis, for the result of these actions: "almost a direct result of all these actions and agreements, beginning of 2000, was to surrender to Konstantinos, from Theodore, from his father Panayiotis and from his mother Helen:

a) Cash (bank check) of 145-150.000.000 USD.

b) 100-150.000 shares of UBS.

c) The entire share capital of Greek's Steel Company (HALYVOURGIKI SA).

d) The entire share capital of Switzerland's Steel Company (FERROWHOLEN).

e) In addition with the aquire of ownership documents of four merchant ships and one (1) additional commercial vessel, the total value of the above (a, b, c, d, e) with the then values 400-450.000.000 USD.

f) The legal person (Establisment) CASSIDRA, after the fulfillment of its obligations."

The allegations of Nikolaos Farmakis show a property that reaches or exceeds $ 500 million, since as he says: "when transferring the ownership of Cassidra to K. A. with $ 75 million, I had no obligation to say that I was also the protector of Cassidra and that this was written in the statutes of the legal person which I gave."

Mr. Pharmakis speaks clearly for the transfer of funds from Panagiotis Angelopoulos to his son Konstantinos Angelopoulos, father of the current owners of Halyvourgiki and Olympiakos BC, who, according to information, until 1998 he lacked considerable property.

And justifiably arise the question, if this whole transfers of assets which worth about $ 500 million, has been declared in the Greek government, whether has been taxed or if it were transferred through ... tax-free donations.