MEMBERS of the Victorian Greek community robbed of millions are likely to lose out.
The money was stolen in a property fraud by two brothers.
County Court Judge Michael McInerney jailed John Vouranis, 41, of Rye, for a minimum of three years for defrauding his close relatives and friends of more than $4 million.
His brother, George Vouranis, 39, also of Rye, was jailed for at least a year after defrauding a family friend of $583,000.
The judge said nobody appeared to know where the money had gone.
Yesterday the court heard John Vouranis also tried to fraudulently obtain $1.7 million in bank loans using details of family and friends without their knowledge.
The offending happened between 2004 and 2005.
Judge McInerney said John Vouranis' offending displayed a serious level of criminality and added that none of the loans had been repaid.
George Vouranis pleaded guilty to two counts of obtaining property by deception.John Vouranis pleaded guilty to 15 counts of obtaining financial advantage and property by deception and one count of attempting to obtain financial advantage by deception.
Judge McInerney sentenced John Vouranis to a maximum of 4 1/2 years in prison and George Vouranis to a maximum term of three years.
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