OSINFO - Open Sources Information

Athens

August 10, 2005

Police on the island of Crete have searched the home of a British computer scientist who allegedly hacked into the site of a British insurance company to extort money from the firm, authorities say.

The 54-year-old man from London, who was not otherwise identified, was located following cooperation with British authorities, police said in a statement.

The suspect has not been arrested because the alleged crimes are not covered by the country's fast-track prosecution system.

In London, police confirmed they were co-operating with Greek authorities but did not give any details of the investigation or say whether they would seek the man's extradition, a police spokesman said.

Greek police, who seized computers and hard disks from the man's home on Monday, said in a statement that he allegedly cancelled dozens of insurance contracts and changed the firm's share price listed on the company's website.

He also posted false statements, claiming company executives had been involved in fraud, and alleging that the firm adopted discriminatory policies against Muslims following the July 7 terrorist bombings in London.

The suspect moved to the town of Sitia on Crete a year ago and was active in the local real estate market.