An Athens appeals court has overturned a lower court ruling against Stefanos Kasselakis, the leader of the Movement for Democracy party and former SYRIZA leader, clearing him of charges linked to Greece’s foreign asset legislation.
The first-instance court had sentenced Kasselakis to a suspended 30-month prison term and imposed a €50,000 fine over allegations that he retained business interests in the United States after becoming SYRIZA leader in September 2023, in breach of rules designed to prevent conflicts of interest.
During the appeal hearing, the prosecutor recommended acquittal, arguing there was no evidence of intent and that Kasselakis was unaware of the relevant Greek legal restrictions after spending most of his adult life in the US.
Prosecutors had focused on his alleged involvement in the US-based company Tiptree Marine and on OSIOS, a company linked to loans to SYRIZA. However, the court said evidence failed to show Kasselakis held any real participation in Tiptree Marine when he was elected party leader at SYRIZA.
Kasselakis testified that he had lived in the US for 21 years, managed businesses there, and only entered politics in 2023 after being approached by Alexis Tsipras, whom he succeeded at SYRIZA.
