Mr. Angelos Michalopoulos continues his investment activity in Ios, where he has bought a large part of the island.

Three of his investment plans for luxury hotels and villas have been included in the strategic investment category, with the state subsidies and facilities that this entails.

Mr. Michalopoulos’s investment activity in Ios is controversial.

The aesthetics of its constructions bring more from Las Vegas than from the Aegean island.

Apart from that, however, Mr. Michalopoulos seems to consider that he is not bound by the environmental legislation, as he often violates it, causing disasters and alterations in emblematic areas of the island.

He has been fined a lot for his activities.

Recently, a 16-month prison sentence was imposed with the suspension of the legal representative of one of the main companies through which it operates on the island for environmental violations.

At the same time, access to the beaches adjacent to Mr. Michalopoulos’s constructions has been de facto banned for the public.

Ios appears to be turning into Las Vegas and rapidly being privatized with taxpayer money…

 

source: https://www.mononews.gr/oikonomia/thewiseman/o-savvidis-ke-i-kafetieres-ti-lei-i-kivernisi-gia-ethniki-ke-tchs-ke-i-amfilegomenes-drastiriotites- tou-angelou-michalopoulou-stin-io