x

Society

Serious Criminal Charges against 16 Folli Follie Executives

December 18, 2019
ANA

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.

RELATED

ATHENS - Users of the Viber call and text messaging app in Greece made 1 billion calls in 2021, Rakuten Viber revealed on Thursday.

Top Stories

Associations

ASTORIA – The Pancyprian Choir of NY held its first meeting of 2022 and shared best wishes for the New Year with their annual cutting of the traditional vasilopita at Dionysos Taverna in Astoria on January 24.

Associations

BRONX, NY – In a festive atmosphere, the traditional cutting of the vasilopita was held by the Northern Chios Society of Pelineon Agia Markella in the community hall of Zoodohos Peghe Greek Orthodox Church in the Bronx on January 23.

Society

ATHENS – A major snow storm that had been predicted for days still caught residents in Greece offguard and the New Democracy government scrambling for answers as to why motorists were stuck for hours on major roads.

Video

Democrats Eye Supreme Court Pick to Revive 2022 Prospects

Democrats stung by a series of election year failures to deliver legislative wins for their most loyal voters hope they'll be buoyed by the prospect that President Joe Biden will name the first Black woman to serve on the Supreme Court.

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.