Woops looks like my computer may have been loading it wrong, I swear I saw them make a typo in that article, either that or they fixed it really quick lmao.
I don't know about illegal, but the whole lending system is definitely fraudulent, but it goes both ways, if Greece hadn't borrowed that money in the first place they wouldn't be in this mess.
So is the law. In every country there are different laws so what is fraudulent in one can be legal in another.
I hope Greece does like Iceland and ends up not paying this debt.