Greece investigates 5.3 million euro social security fraud scheme

Authorities in Greece are investigating a major fraud scheme involving more than 5.3 million euros targeting the e-EFKA social security fund and the Greek State. The alleged criminal organization, reportedly led by Philippos Kambouris, utilized a network of approximately 29 shell companies across the hospitality, nightlife, advertising, and clothing sectors to facilitate the fraud.

The scheme involved the fictitious insurance of numerous prominent Greek musicians and workers. These individuals appeared to be legally insured through Kambouris's companies, yet the required contributions were never actually paid to public funds. As a result, several well-known artists have been called by the Economic Police to testify and clarify whether they were aware of their fictitious employers or had actually worked at the venues where they were registered.

In addition to the social security fraud, investigators are examining suspicious financial transactions and the use of shell companies to issue fake invoices for advertising and events to the LAOS political party, led by Kambouris. The Anti-Money Laundering Authority is also scrutinizing the couple's financial movements both in Greece and within another EU member state. Several individuals, including businesspeople and accountants, have been arrested in connection with the investigation.