# Greek crackdown on economic fraud and organized crime

> Live situation record from CLSTR: https://clstr.news/situations/greek-crackdown-on-economic-fraud-and-organized-crime
> Updated: 2026-10-26T10:29:00.000Z. Sources: 72. Developments: 2.

Greek authorities, led by the Directorate for Combating Organized Crime (DAOE) and the Organized Crime Prosecution Department, have intensified investigations into a massive economic fraud scheme involving the ‘Choriatiko’ bakery chain. Businessman Angelos Giannakopoulos was arrested in the Ioannina region while allegedly attempting to flee to Albania after returning from Dubai. 

Authorities estimate the tax fraud and unpaid social security contributions to the EFKA fund exceed 100 million euros. The scheme reportedly involved a network of approximately 400 to 500 companies using ‘straw men’—including individuals with zero income, unidentified foreigners, or deceased persons—to act as nominal managers and evade VAT and tax obligations. The network spans over 200 stores across locations such as Attica, Volos, Mykonos, Rhodes, and Zakynthos. Investigators are also examining potential links to human trafficking and prostitution rings.

As part of the operation, approximately 50 to 60 individuals, including a key accountant and former GENOP unionist Rizos Rizos, have been detained. By court order, the assets of the accused, including bank accounts and safe deposit boxes, have been frozen. 

Government spokesperson Pavlos Marinakis emphasized a broader state commitment to dismantling criminal organizations. Official data indicates the DAOE has handled 1,510 cases, leading to charges against nearly 5,500 individuals and the dismantling of 259 criminal organizations. Furthermore, the Independent Authority for Public Revenue (AADE) conducted extensive audits and inspections during 2024 and 2025, securing over 5.2 billion euros in taxes and fines.

Recent developments clarify that the investigation targets a complex network of approximately 520 companies. Beyond the bakery chain, the probe extends to nightlife venues and hospitality businesses in Athens, Mykonos, and Rhodes. Regarding Giannakopoulos, records indicate a prior criminal history involving an arrest in 2010 related to a human trafficking ring; while he received a primary conviction in 2015, he was later acquitted on appeal.

## Claims

- Angelos Giannakopoulos, the owner of the chain, has been arrested. (corroborated by 34 sources)
- The company's accountant was also arrested. (corroborated by 28 sources)
- The alleged economic fraud exceeds 100 million euros. (corroborated by 28 sources)
- The investigation involves an alleged tax fraud amounting to millions of euros. (corroborated by 24 sources)
- The Directorate for Combating Organized Crime (DAOE) conducted an operation against the Choriatiko bakery chain. (corroborated by 24 sources)
- Giannakopoulos was arrested after returning to Greece from Dubai. (corroborated by 23 sources)
- The Directorate for Combating Organized Crime (DAOE) conducted an operation on October 25. (corroborated by 17 sources)
- The investigation involves approximately 520 companies. (corroborated by 17 sources)
- Giannakopoulos was previously convicted in 2015 for human trafficking. (corroborated by 16 sources)
- The Choriatiko chain has dozens of stores in Attica and Volos. (corroborated by 14 sources)

## Timeline

### 2026-10-26: Pavlos Marinakis announces crackdown on tax evasion and organized crime

Greek government spokesperson Pavlos Marinakis announced a major crackdown on tax evasion and organized crime, citing thousands of charges and billions in recovered taxes.

4 sources. https://clstr.news/cluster/pavlos-marinakis-announces-crackdown-on-tax-evasion-and-organized-crime

### 2026-10-25: Angelos Giannakopoulos arrested in massive Greek tax fraud investigation

Greek police arrested businessman Angelos Giannakopoulos and dozens of associates in a massive 100 million euro tax fraud and social security evasion probe involving over 500 companies.

71 sources. https://clstr.news/cluster/choriatiko-bakery-chain-owner-arrested-in-greece

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Cite as: Greek crackdown on economic fraud and organized crime. CLSTR, https://clstr.news/situations/greek-crackdown-on-economic-fraud-and-organized-crime