An audit released recently by the Bank of Greece accuses Lavrentis Lavrentiadis, the head of Proton Bank, of embezzlement, corruption, and fraud. Prosecutors allege that Lavrentiadis turned Proton Bank into a criminal enterprise, eventually stealing over 600 million euros. All this took place during Greece’s financial scramble, while the government was borrowing millions of dollars abroad and facing riots at home.Via Meadia has commented on the corruption in Greece’s banking system before. Systemic dishonesty by rich Greeks benefiting from corporatist links to a deeply dysfunctional state is one of the root causes of the Greek agony. The Greek banking system served less as an efficient and transparent mechanism of capital allocation than as a vehicle to preserve the power of hidden private interests. Both Greek parties were deeply complicit in this nest of corruption and special dealing and cleaning up this mess, if done properly, is going to destroy a lot of careers.Mr, Lavrentiadis has as yet not been formally charged with financial crimes and no doubt he has a story to tell. But if the allegations against him are true, he should not get off lightly — and there is room in the Greek prison system for many more like him. Punishing powerful thieves and con artists has to be part of any lasting change in Greece. If men like Lavrentiadis don’t end up behind bars, Greek reform will have failed.