An Athens court on 4 December passed down a 10-year prison sentence to Greek shipowner Victor Restis after finding him guilty of making a false statement, but he was released as the term was suspended, however a travel ban has been imposed on him.

Former TH Heavy Engineering (THHE) ceo Nor Badli Munawir Mohamad Alias Lafti was charged in the Sessions Court with three counts of money laundering involving MYR1.57m ($352,374), local media reported.

Money laundering and embezzlement charges against Greek ship owner, Victor Restis, were dismissed by the Athens-based Greek Supreme Court which stated the defendant’s actions had been standard business practice and therefore not illegal.

Greek shipowner and businessman, Victor Restis, was granted conditional release from pretrial custody by an Athens prosecutor on 3 December, almost five months after his arrest on charges of embezzlement and money laundering.

Katia Restis, sister of Greek shipowner businessman, Victor Restis, imprisoned pending trial on money laundering and embezzlement charges, says the family’s shipping business will continue to operate.