E-clear News

Travel tycoon Elias Elia declared bankrupt

Travel tycoon Elias Elia declared bankrupt

8th Jun 2011 Airline News

Controversial travel tycoon, Elias Elia, owner of the credit card company blamed for the collapse of Flyglobespan, has been declared bankrupt. The Greek Cypriot’s firm E-Clear was accused of withholding £35 million from the Scottish carrier, which collapsed in December 2009.

Fraud office drop E-Clear investigation

Fraud office drop E-Clear investigation

A fraud investigation into the card processing company blamed for the collapse of Scottish budget carrier Flyglobespan has been dropped. The Serious Fraud Office has declared that there was “insufficient evidence” to pursue a prosecution against E-Clear,  which was run by flamboyant Cypriot entrepreneur Elias Elia and collapsed in January 2010 owing an estimated £127 million.