Hellenic Police uncover 100-million-euro tax evasion scheme in bakery industry

The Hellenic Police have dismantled a sophisticated criminal organization involved in a massive tax and social security contribution evasion scheme exceeding 100 million euros. The investigation, led by the Organized Crime Division (DAOE), focuses on the 'Horiatiko' bakery chain and its owner, Angelos Giannakopoulos, who was arrested upon his return from Dubai. Operations were conducted across Athens, Mykonos, Rhodes, and Volos to address fraudulent activities involving a network of over 520 companies, including both legal entities and shell firms.

Authorities have arrested 59 individuals, including accountants, business executives, and Rizos Rizos, a former trade unionist allegedly serving as a key coordinator and recruiter of figureheads. The Anti-Money Laundering Authority has frozen 6 million euros in related bank accounts. The suspects face severe felony charges, including tax evasion, social security fraud, and money laundering. Investigations are currently ongoing to fully map the network, which is linked to approximately 200 storefronts associated with Giannakopoulos, including the 'Attikoi Fournoi' and 'Bread Factory' chains. Police and tax authorities continue to analyze financial records to identify all participants in the complex scheme.