The truth is that no one knows with absolute certainty exactly how this would have been pronounced in that time. Regional dialects also come into play.
Its reasonable to say that moh-LOAN la-BAY (as opposed to VEH) appears to be the approximate pronounciation for that time period.
Modern Greek would use a V sound instead of a b sound. (the name Basil in Greek is Vasili)
There is no B in Modern Greek. B is represented as MP (example: beer (in Greek, beera) is MPIRA).
But ancient Greek, Ionic and Doric dialects, would have used a B sound.