Pasok's Eight Year-Old Socialist Administration, The first in Greek history, which followed its successive victories in 1981 and 1985, was due to undergo its third electoral test in mid-1989. In fact, the electoral campaign had started in the late summer of 1988 and was well under way at the beginning of the new year. Andreas Papandreou's charismatic leadership of PASOK, which in the past had been the principal explanation of his firm control of events, was already starting to fade, as he struggled to put a brave face on the resignations of respected ministers and party members in the wake of revelations of several scandals at the top of the pyramid. Foremost among these was the celebrated case of George Koskotas, the young owner of the Bank of Crete, who was in gaol in America after his escape from Greece, to avoid charges of embezzling more than £130 million in bank deposits. In mid-March, Time magazine's cover story showing Koskotas behind bars was entitled: ‘The Looting of Greece: a fallen tycoon charges Papandreou with stealing millions’. This caused the resignation of Agamemnon Koutsoyorgas, Papandreou's Deputy Prime Minister and Minister of Justice, when Koskotas claimed he had credited him with $2 million in a Swiss bank account. He also stated that Papandreou had authorized this payment and had himself been on the payroll.