Greece investigation reveals real estate money laundering by fraud ring

Greek authorities have uncovered a large-scale money laundering operation linked to a fraud ring involving bakeries. Investigations indicate that the criminal organization used real estate companies and private individuals to launder illicit funds through high-value property acquisitions.

Key investments identified by investigators include luxury properties and land in the Athenian Riviera, specifically along Poseidonos Avenue, as well as significant holdings in Mykonos. Notable transactions include a 4,000 square meter plot in Ano Mera, Mykonos, purchased for 2.5 million euros, and various properties in areas such as Alimos, Nea Erythraia, and Kalivia Thorikou.

The investigation also revealed that the ring maintained informants within several public services to facilitate their activities. Alleged contacts included officials from the Land Service, EFKA (social security), the Labor Inspectorate, and the Hellenic Police. These informants reportedly provided early information on administrative decisions, tender processes, and legal documentation to assist the criminal organization.