Arizona Republic:  “An Arizona real-estate developer was arrested last week on fraud and bankruptcy charges stemming from an alleged scheme to hide $17 million in assets.  Alex Papakyriakou, also known as Alex Papas, 57, of Phoenix is accused of bank fraud and conspiracy to commit bankruptcy-related offenses, including concealing assets and falsifying records, according to the U.S. Department of Justice.  The indictment, filed in Arizona, alleges Papas used more than $150 million from investors and $250 million in bank loans to buy and build shopping centers, mostly in Arizona, between 1997 and 2008.”

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