Greek authorities dismantle 100 million euro tax fraud ring linked to bakery chain

On October 25, 2026, Greek law enforcement launched a major operation to dismantle a criminal network involved in massive tax evasion exceeding 100 million euros. The investigation, led by the Organized Crime Division, centers on the 'Choriatiko' bakery chain and a labyrinthine network of over 520 associated companies. Authorities arrested 59 individuals, including the owner, Aggelos Giannakopoulos, who was apprehended upon his return from Dubai, and former GENOP-DEI unionist Rizos Rizos, who allegedly acted as a recruiter for straw men used to manage shell companies.

Criminal charges filed against the suspects include formation of a criminal organization, money laundering, tax evasion, fraud against the state, forgery, and pimping. The Anti-Money Laundering Authority has frozen the suspects' assets and bank accounts. Two assistant investigating magistrates have been assigned to assist the primary judge due to the complexity of the case. Authorities are currently mapping the illicit activity, which involved dual bookkeeping and systematic evasion of social security contributions, across operations in Athens, Mykonos, Rhodes, and Volos. Investigations into other major commercial networks, including reports on the 'Pizza Fan' chain, are also reportedly ongoing.