But before the purchases had a chance to clear the banks in the United States the thieves allegedly emptied the bank accounts.
"When the authorized transactions from Greece come through to the American banks, the banks have to honor the authorizations," according to Yanis-Fermin. "With no money in the business checking accounts because the money had been transferred out, the business checking account balances become overdrawn."
Investigators are accusing Katsamagas, a Granada Hills resident, of involvement in the scam that relied on the following account names including: Brentwood Home Designs, Brentwood Plans & Permits, Brentwood Cabinetry, Brentwood Doors, Brentwood Landscaping, Brentwood Paint, Brentwood Flooring, Brentwood Plumbing, Brentwood Roofing and Brentwood Tile.
Also named in the complaint are Spiro Katsamagas, Areti Vamvakaris, Leonardos Vamvakaris, Ekaterini Sfakiotis, Vassilios Lykourezos, Dimitrios Koutes, Theocharis Bays, Theodoros Kousoulis, Dimitrios Iliopoulis and Spiros Gennatos.
Federal officials report that Katsamagas is under their custody today while locked inside the Santa Ana Jail.