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[SITUATION] · [ACTIVE] · [CRIME]

2 clusters · 6 sources · 1 days · First seen · Last updated

Money laundering investigations in Greece

Overview

Investigations into financial crime in Greece have highlighted the use of the hospitality sector to launder illicit funds. Criminal organizations have reportedly utilized coffee chains, bakeries, and restaurants to mask the origin of millions of euros by mixing criminal proceeds with legal revenue through tactics such as shell companies, fictitious sales, and triangular transactions.

Further developments in the investigation revealed a large-scale operation linked to a fraud ring involving bakeries that expanded into real estate. The organization used real estate companies and private individuals to launder money through high-value property acquisitions, including luxury land and properties in Mykonos and the Athenian Riviera.

Authorities also discovered that the ring maintained informants within several public services, including the Land Service, the Labor Inspectorate, and the Hellenic Police, to gain early information on administrative decisions and legal documentation.

Entities

Athenian Riviera · Choriatiko Bakery Chain · EFKA · Greece · Hellenic Police

Timeline

  1. [CRIME] 3 sources
    Greece investigation reveals real estate money laundering by fraud ring

    Greek authorities are investigating a fraud ring for laundering money through luxury real estate in the Athenian Riviera and Mykonos, aided by informants in public services.

  2. [CRIME] 3 sources
    Greece: Money laundering methods in the hospitality sector

    Criminals are laundering millions through Greek hospitality businesses using shell companies, fake invoices, and triangular transactions to disguise illicit funds as legitimate revenue.

Sources

capital.gr · e-thessalia.gr · ieidiseis.gr · newsbomb.gr · thenewspaper.gr · thetoc.gr