Angelos Giannakopoulos, 57, owner of the Choriatiko bakery chain and alleged mastermind of the ring, has completed his questioning before the 14th regular investigating magistrate. It lasted about 40 minutes.
He denies the fraud charges, arguing that the case concerns tax offences and that there was no intention to conceal income or cause losses to the state. He is said to argue that changes to the people listed at the helm of the companies were intended to ensure they could continue operating without disruption. He has also said he is willing to pay any debts under a repayment arrangement.
After giving his statement, he asked to be released on restrictive conditions or, alternatively, placed under house arrest with electronic monitoring, citing health problems and the fact that he has a minor child. The prosecution, however, decided that he should be remanded in custody.
So far, of the first ten defendants to give statements, six have been remanded in custody, while six have been released on restrictive conditions and, in some cases, on payment of bail.
With their heads bowed and their faces concealed by hoods, the first 30 of the 59 people arrested in the case appeared before the investigating magistrate. The 875-page case file describes a wide-ranging network of alleged criminal activity, with possible links to public officials and police officers. The Hellenic Police investigation began in January 2026, with the ring’s links to public officials also under scrutiny.
According to the case file, a 47-year-old woman, said to have been the 57-year-old’s right-hand person, was responsible for handling difficult situations. In particular, after a workplace accident a few months ago at one of the chain’s bakeries on Syngrou Avenue, she is alleged to have contacted a supervisor at the Labour Inspectorate and then asked an accomplice to buy designer perfumes and lipsticks for at least ten public officials.
Authorities are also scrutinising about 40 people alleged to have acted as “fronts” for the ring, most of them elderly, on low incomes or living abroad. One example is the testimony of a 53-year-old defendant, who said that, facing alcohol problems and financial difficulties, he agreed to pose as the owner of nine companies, receiving €500 every fortnight.
The need to examine each defendant’s role carefully was also stressed by Thrasyvoulos Kontaxis, the defence lawyer for a female defendant, who noted that the size of the case file made it difficult to assess the alleged involvement of everyone named in it.
A total of 59 people have been arrested in the case and charged with nine felonies and two misdemeanours. Minister for Citizen Protection Michalis Chrysochoidis said the investigation was continuing and that more people could be brought before the courts.