LAOS party president arrested over EFKA social security fraud

Greek authorities have arrested eight individuals, including Filippos Kambouris, president of the LAOS party, and his wife, for orchestrating a sophisticated criminal network that defrauded the state social security fund, EFKA. The operation, led by the Financial Crimes Investigation Unit, took place in the Attica region following an investigation that began months ago due to suspicious bank transactions.

The criminal group, active since 2021, reportedly established over 25 shell companies across various sectors, including advertising, catering, and retail. By placing vulnerable individuals as nominal owners, the organizers avoided paying insurance contributions before closing the businesses and leaving behind massive debts. The scheme resulted in financial losses to the state estimated at more than 1.5 million euros. Authorities are currently investigating whether these companies were also linked to political funding.

Financial intelligence units, including the Anti-Money Laundering Authority, are tracking international monetary flows connected to the suspects. Investigations are ongoing, with officials searching for two additional members of the network. The suspects face serious charges related to systematic fraud and potential money laundering, as authorities continue to map the financial trail across borders.