Greek authorities dismantle massive tax evasion network involving major bakery chain

On October 25, 2026, the Hellenic Police and the Department for Organized Crime launched a major operation in Greece leading to the arrest of Angelos Giannakopoulos, owner of the 'Choriatiko' bakery chain, along with 58 other individuals. The investigation centers on a sophisticated criminal network involving approximately 520 companies and over 200 retail outlets. Authorities estimate the financial damage to the Greek state, including unpaid VAT and social security contributions, to exceed 100 million euros.

Among the detainees is Rizos Rizos, a former trade unionist at GENOP-DEI, identified as a key operative responsible for recruiting 'straw men' to head shell companies. Investigators discovered that the organization employed systemic tax fraud, document forgery, and money laundering. Following the arrests, the Anti-Money Laundering Authority froze 6 million euros in related bank accounts. The suspects face multiple felony charges, including formation of a criminal organization, fraud, tax evasion, forgery, and money laundering.

The case has been referred to investigators, with two assistant magistrates assigned due to the high volume of defendants and complexity of the documentation. While the investigation remains ongoing, police are also examining potential administrative links and the use of illicit software for revenue concealment. This crackdown marks a significant effort by Greek financial authorities to curb large-scale corporate tax non-compliance.