ETA Targeted For Inspection

Following the financial and management control of the Greek National Tourism Organization ordered by President Nikolas Kanellopoulos in January, certified internal auditors were recently assigned to inspect the financial records of the Tourism Development Company (ETA), the company that manages the property of the GNTO.

According to the Culture and Tourism Ministry, the public administration inspectors’ agency ordered the audit.

The agency has also been examining the GNTO’s financial records for the years 2008 and 2009 since January. The two-year period in question had inflated the GNTO’s debt to international print and electronic media.

Greek press reports said that due to the “direct link” between ETA and GNTO and the “financial irregularities” discovered, an inspection was ordered in regards to ETA’s financial data for the last three years (2007-2009).

ETA -founded in 1998- was assigned to administer the estate of the GNTO. The company manages more than 350 assets covering an area of 70,000 stremma that includes golf courses, marinas, Xenia motels, campsites, casinos, ski resorts, caves etc.