A senior executive at London-based insurance company Hiscox is confronting criminal perjury charges in Greece, accused of submitting false testimony during extradition proceedings involving a former company official, according to court documents reviewed by Reuters.
Greek prosecutors claim the executive, whose identity remains protected under Greek legal statutes, provided misleading evidence between 2019 and 2020 to support Bermuda’s request to extradite Yuval Abraham, who previously served as chief financial officer of Hiscox Services Ltd (HSL), a Bermuda-based division of the company.
This Greek legal proceeding, not previously disclosed publicly, emerges from a complex international legal saga spanning eight years across multiple countries including Bermuda, Britain, the United States, South Africa and Greece. The case involves accusations that Abraham misappropriated approximately $1.8 million to purchase high-end Swiss timepieces, alongside claims of whistleblower retaliation.
During a March 4 court session in Athens, the Hiscox executive’s legal representative argued for dismissal, claiming the court summons was improperly served in Greek instead of English. Defense attorney Ioannis Androulakis maintained his client’s innocence, stating to the judge: “The entirety of what (my client) has testified as part of the extradition process … corresponds to the truth.”
The executive faces misdemeanor charges for false testimony, which could result in monetary penalties and imprisonment up to three years.
Hiscox, headquartered in Bermuda and among Lloyd’s of London’s major commercial insurance market participants, has refused to provide statements regarding the ongoing legal matter.
Abraham’s legal counsel, Zoe Konstantopoulou, who also leads a political party, addressed Greece’s parliament in May 2025, describing her client as a “victim of a very serious corruption case.” During the March 4 hearing, Konstantopoulou characterized Abraham as a “very promising, senior executive” who was targeted after declining to overlook workplace tax violations.
The case, initiated by Abraham’s 2021 lawsuit against the Hiscox manager, will continue with the next court session scheduled for April 21.
Abraham claims he discovered fraudulent activities in 2017 that generated “astronomical profits” through unpaid taxes to unnamed jurisdictions, though he has not presented supporting evidence. Following this alleged discovery, Abraham refused to approve the 2017 financial statements of a Hiscox subsidiary, according to legal documents.
Reuters was unable to independently confirm Abraham’s allegations, and Hiscox has declined commentary on the tax fraud claims.
Three Hiscox subsidiaries, including HSL, have accused Abraham of creating fraudulent invoices for fictitious consulting work to redirect company funds for luxury watch purchases between June 2017 and February 2018, based on court records from Bermuda and London proceedings.
Abraham, a 45-year-old holding citizenship in Israel, South Africa and Poland, was terminated in 2018 but has denied all wrongdoing. In his 2021 legal counterclaim, he alleges the charges against him were fabricated to silence his internal whistleblowing efforts.
Greek prosecutors, in referring the case to trial, determined that Abraham had not committed fraud, did not oversee the disputed invoices and payments, and lacked sole authorization for such financial transactions, court records indicate.
HSL, Hiscox Agency and Hiscox Insurance Company (Bermuda) obtained a civil summary judgment through Bermuda’s Supreme Court against Abraham in October 2018, ordering payment of approximately $1.5 million and 334,000 Swiss francs ($427,600), plus accumulated interest.
Courts across Bermuda, New York and London implemented asset-freezing measures against Abraham during 2018 and 2019, according to public legal records.
Bermuda authorities reported in July 2019 that Abraham had fled before arrest on charges including fraudulent money transfers, accounting falsification, money laundering and additional offenses.
Abraham was detained at Athens airport in August 2019 following an Interpol Red Notice alert, court documentation shows. He remained in a maximum-security facility for nearly one year, during which he applied for Greek asylum, before Greece’s justice ministry ruled in 2021 that Bermuda lacked authority to request his extradition.
