Created: Mar 21, 2026 07:54 AM (Updated: Mar 21, 2026 08:19 AM)
No comment: Hiscox is based in offices at Chesney House on Pitts Bay Road in Pembroke (File photograph by Akil Simmons)
A manager at Bermudian-headquartered Hiscox Ltd is facing a criminal charge in Greece.
The charge stems from allegations of false testimony linked to an attempted extradition in a long-running fraud case involving a former executive of Hiscox’s Bermuda operations.
An Athens prosecutor alleges the manager submitted false evidence in 2019 and 2020 in support of a request to extradite Yuval Abraham, a former Hiscox Services Ltd chief financial officer, to Bermuda, according to court filings seen by Reuters. The manager, who is not named in the filings, denies wrongdoing.
Hiscox, a member of the Lloyd’s of London commercial insurance market, declined to comment when contacted by The Royal Gazette. The Gazette contacted attorneys for both parties, who did not respond by press time.
The Greek proceedings mark the latest development in a dispute that began in 2018, when Hiscox accused Mr Abraham, then an executive based in Bermuda, of misappropriating more than $1.8 million to buy luxury Swiss watches.
The Bermuda Supreme Court later granted summary judgment in favour of Hiscox subsidiaries, ordering him to repay about $1.5 million and additional sums in Swiss francs.
Allegations: Yuval Abraham, former Hiscox Services Ltd chief financial officer, was not extradited by Greek authorities (File photograph)
Earlier that year, the court imposed a worldwide freezing order on Mr Abraham’s assets.
Hiscox also pursued related legal action in multiple jurisdictions, including England and Wales, and South Africa, and sought assistance from a New York federal court to obtain documents linked to the alleged transactions.
In 2019, Bermuda authorities issued a warrant for Mr Abraham’s arrest on charges including obtaining money transfers by deception, false accounting and money laundering.
He was later arrested in Greece on an Interpol notice as Bermuda sought his extradition.
Greek authorities ultimately declined to extradite Mr Abraham, who holds Polish, South African and Israeli passports.
The recent case stems from a lawsuit he filed in 2021 alleging that evidence used in the extradition process was false.
A Greek prosecutor has since indicated that Mr Abraham did not commit fraud, according to the court filings.
Zoe Konstantopoulou, a lawyer representing Abraham, who is also leader of a political party known as Course of Freedom, told Greece’s parliament in May 2025 that her client was a “victim of a very serious corruption case”.
Reuters reported that Ms Konstantopoulou told the court on March 4 that Abraham had been a “very promising, senior executive” who was framed after refusing to turn a blind eye to tax law violations at work.
Mr Abraham did not cite evidence to support his claim of tax fraud in court filings, Reuters reported.
Hiscox has previously alleged that Mr Abraham used fraudulent invoices for sham consulting services to divert company funds.
Mr Abraham has denied those claims and has said the case against him was brought in retaliation for whistle-blowing.
The next hearing in the Greek case is scheduled for April 21.
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