A brothel owner in England’s Birmingham has claimed to have lent all his money to the Greek government to assist with the financial crisis.

The claims were made by 66-year-old pensioner Achilleos Neophytou after appearing at Birmingham Crown Court last week, where he pleaded guilty to keeping, managing or assisting in the management of a brothel for the purposes of prostitution.

When asked by reporters where the profits were, believed to be as much as £7 million (AUS$11,673,322 million), Neophytou replied, “Ahh, where’s the money? That’s a good question. Poor Tsipras was running out of money, you know, Greece.

“And we lend them to Tsipras!”

Police raided the Libra Club in February 2015, reports RT, amid suspicions that the space was being used to run a highly profitable brothel with up to 200 customers a day.

The 66-year-old, who appeared in court alongside five others including his son Stefanos, 25, insisted the term ‘brothel’ was inaccurate, instead justifying the establishment as providing a public service.

“People assumed we were making millions, we was working hard, service to the community, but other people, they have got different ideas,” said Neophytou.

“Solicitors were coming there, lawyers were coming there, doctor were coming there, it was a service to the community.

“It was not a brothel.”

Now on bail, Neophytou’s sentencing has been adjourned until 17 October.