Hiscox Manager Accused of False Testimony in Greek Court

A former Hiscox employee is now at the heart of a legal dispute in Greece. The judge alleges that he may have lied while aiding Greece in attempting to bring a former colleague back to Bermuda.

Key Players

• Yuval Abraham – Former finance head at Hiscox in Bermuda, now accused of embezzlement.
• Former Hiscox Manager – Accused of submitting potentially false documents to Greek authorities.

Allegations

• Misappropriation: Abraham is alleged to have taken approximately $1.8 million and purchased luxury Swiss watches.
• False Documentation: In 2019–2020, the manager sent documents to Greek authorities that the court believes were untrue.
• Framing Claims: Abraham maintains he was framed after refusing to approve questionable accounts that enabled tax avoidance.
• Fraud Discovery: He claims to have uncovered fraud in 2017 and declined to sign off on the books.

Legal Proceedings

• A lawyer for the manager argues that his client did not lie and requests dismissal of the case.
• The lawyer also notes that the summons was issued in Greek, not English.
• Potential penalties for the manager include a fine or up to three years’ imprisonment for perjury.

Company Context

• Hiscox: Listed on the London Stock Exchange; has not commented on the matter.
• The company has faced legal challenges involving Abraham in Bermuda, Britain, the US, South Africa, and Greece.

Background Events

• Abraham was arrested at Athens airport following an Interpol notice.
• He spent nearly a year in high-security detention before seeking asylum in Greece.
• In 2021, the Greek ministry ruled that Bermuda could not request his extradition.