His companies balance sheets were full of profits, but not from their core activity. The money was coming from buying and selling shares, usually from the group. <\/strong><\/p>\nHe collapsed together with the Greek stock market, in the early ’00s. Greek banks tried to save him, pouring tens of millions of Euro in his companies, as the Greek governments were trying to help the thousands of employees. Everything was lost and the rest was easy to predict: incredible losses, 99,9% decline of his shares’ price, thousands of unemployed people, a whole city doomed to 40 – 50% unemployment rate (Naousa). He tried to resolve the problems, but he was always one step behind the facts. Hundreds of thousands of stakeholders lost all their money and his companies’ shares became a short joke. Rumours have it that during the last years he lived his life under heavy protection. Many people chased him. Him, the “king of textiles” of a few years ago…<\/p>\n
Mr. Laurentiadis took a small family business and transformed it into an empire. He sold it to well-known international funds for 800+ million Euro and bought it back less than 2 years after, for just 88! He is accused of several different actions, but there is one clear common link to Thomas Lanaras: In the last years of his glory, his companies’ profits were debated for not being real.<\/p>\n
We will definitely wait for the verdict from the Greek Justice. So far he has to prove that the huge profits he declared were real. Experts doubt that they were the result of work, sales etc.<\/p>\n
I respect all people, so I respect the rich ones as well. But I appreciate the ones who earned their money through work and intelligent moves even more.<\/p>\n
The majority of Romanian media usually praises anyone who appears to be rich, to spend a lot. Usually moves “at the limits of the law” are considered “smart tricks” and sometimes even healthy practices are described as “ways to trick the clients”.<\/p>\n
I am against this approach. What about you?<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Thomas Lanaras. 12 years ago, he was a billionaire. He gained 300 million Euro from the Greek stock exchange. His plan was to create Europe’s top textile group. His flagship company, “Klonatex”, saw its share rising some… 30 times in just 3 years, exceeding a capitalization of 3 billion Euro. At that time, more […]<\/p>\n","protected":false},"author":3,"featured_media":59454,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[216,17,236],"tags":[],"_links":{"self":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts\/12234"}],"collection":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/comments?post=12234"}],"version-history":[{"count":0,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts\/12234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/media\/59454"}],"wp:attachment":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/media?parent=12234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/categories?post=12234"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/tags?post=12234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}