Serious Criminal Charges against 16 Folli Follie Executives

December 18, 2019

ATHENS – Sixteen Folli Follie executives will face new and serious criminal charges at the orders of assistant financial crimes prosecutor Yiannis Dragatsis on Tuesday. Among the charges against them are those of forming a criminal organisation, forgery, and manipulating stock market prices.

The case concerns the forgery and use of fake bank statements in order to create inaccurate financial reports that misrepresented the real economic state of the company and its stock market profile.

Based on a lengthy investigation by Dragatsis, the actions concern members of the Koutsolioutsos family, the founders of the Folli Follie group, but also the firm’s executives between 2009 and the first trimester of 2018.

Specifically, Dimitris Koutsolioutsos, his son Tzortzis and another four individuals are charged with running, forming and joining a criminal organisation. They include the head, finances chief and an employee of the group’s subsidiary in Asia, as well as the company’s Greek financial director.

Six people, of which three are foreign nationals, stand accused of criminal forgery and Dimitris and Tzortzis Koutsolioutsos of morally instigating forgery, while 13 people face charges for manipulating stocks, including three members of the Koutsolioutsos family and the rest of the company’s board in 2016-2017.


ATHENS - The family of Greek Prime Minister Kyriakos Mitsotakis is in mourning as Wojtek Grabowski, the father of Mareva Grabowski-Mitsotaki, has passed away at the age of 89 in London.

Top Stories


A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.


Crowds Flock to Funeral of Alison Russo-Elling, Victim of Greek-American Assailant

BROOKVILLE – With honors befitting an FDNY EMS lieutenant who fell in the line of duty, Alison Russo-Elling was buried today.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.