Indicted developer Michael Halikias should not be allowed to travel to Greece because he is a substantial flight risk, federal prosecutors said in a motion filed Monday in U.S. District Court.
The motion is in response to Halikias’ request for permission to travel to his native Greece to attend to family business. A hearing is set for Wednesday.
Halikias, co-owner of the World Music Theatre, and three other businessmen are accused of using a company called Connaught Corp. to defraud investors of more than $3.5 million and lying about it in a federal investigation. Halikias has denied the charges.
The court was asked to approve a security bond of $10 million.But prosecutors argued that Halikias has incentive to flee the country because the indictment that replaced the October 1997 charges increased the possible prison term to five years from five months.