Fraud against e-EFKA: 11 arrests and withdrawals of €2 million from network of 29 companies
A criminal organisation operating for over a decade has been dismantled by the Financial Crimes Prosecution. Philippos Kambouris is the alleged leader.
Network of 29 companies behind EFKA fraud — 11 arrests
"Over the course of the year, I should have been receiving 7,200 and suddenly I find that income valued at approximately 19,500 euros has been declared in my name. I couldn't believe what I was seeing," the first woman who reported the case tells Ethnos — and her statement triggered an investigation by the Financial Crimes Prosecution directorate.
She describes how she continuously sought explanations: "I spoke with Philippos, who referred me to the accountant, the accountant said that the names and amounts are given to him by his wife. I speak to Philippos again, and he tells me to speak to Anna again. In other words, they were passing me around like a ball. He continued to harass me by declaring that I worked for him until July 2025."
Withdrawals of over €2 million at the centre
According to Ethnos, the investigation identified withdrawals totalling over €2 million from bank accounts of companies linked to the network. These transactions are now one of the central points of the investigation into money laundering from criminal activities.
A total of 11 people were arrested, including the two alleged leaders. The case file also includes a Romanian national who has not yet been arrested.
Network of companies in catering, advertising and clothing
According to information gathered by the authorities, the organisation is alleged to have created a network of 29 companies in the sectors of catering, nightlife entertainment, advertising and clothing. Through these, those involved are alleged to have transferred insurance and tax obligations to shell companies, avoiding direct connection with the liabilities.
The organisation's activities, according to the authorities, began at least in December 2013. Initially, the entrepreneurs appeared as owners and managers themselves. Subsequently, in order to distance themselves from administrative, civil and criminal liability, they are alleged to have created or used companies with details of third parties — "straw men" who appeared formally as owners or managers, without engaging in actual economic activity. Many of these companies are alleged to have had no actual premises or bank account.
The selection of "straw men"
For the shell companies, both Greeks and foreigners are alleged to have been used — primarily people facing serious financial difficulties. According to police investigations, the selection of such individuals served a specific purpose: in the event that tax or insurance contribution debts arose, their collection from those appearing as managers was essentially impossible.
In this way, the shell companies assumed insurance contributions corresponding to the actual employment of workers, as well as tax obligations, whilst the actual entrepreneurs remained in the background.
The role of four accountants
A key role in the case is alleged to have been played by four accountants who were arrested. Their professional status, according to the investigation, allowed them to handle the necessary procedures with the competent authorities: launching and managing company activities, tax returns, recording of income and expenses, issuing fictitious invoices, and employee insurance procedures.
The authorities believe that the complexity of the corporate structure functioned as a "shield" against inspections, as the actual connections led formally only to those appearing as managers.
Philippos Kambouris at the centre
Among those arrested is Philippos Kambouris, whom the authorities classify as an alleged leader. These individuals are credited with planning and coordinating the operation, whilst other members are alleged to have joined gradually, taking on specific tasks.
The investigation includes statements from employees in the catering and clothing sectors, as well as singers who were employed in businesses within the network.
The money and the charges
The allegedly illegal income, according to the investigation, was channelled into the network of companies and mixed with money appearing as legitimate corporate transactions. Subsequently, the amounts are alleged to have been used to acquire vehicles and other assets.
Those charged are attributed, as applicable, with formation, membership and direction of a criminal organisation, fraud by continuation and by profession against the State and legal entities under public law, money laundering from criminal activities, violations relating to insurance contributions and tax evasion. The investigation concerns both insurance contributions to e-EFKA and tax obligations, including VAT and income tax, amongst others. An additional case of illegal weapons possession is being examined against one of those charged. The authorities are now examining the total amount of damage allegedly suffered by the State.
Source: Ethnos