Asset seizure of suspects in Pizza Fan and Choriátiko – damage exceeding €135 million
The Authority for Money Laundering Prevention froze accounts, safe deposit boxes and assets of suspects in the two tax evasion cases.
Accounts and safe deposit boxes frozen for suspects in Pizza Fan and Choriátiko
The Authority for Money Laundering Prevention proceeded with the seizure of all assets of suspects in the two major cases of tax fraud involving Pizza Fan and the Choriátiko bakery chain, as reported by Ethnos.
The seizure order was issued by the authority's president, retired prosecutor of the Court of Cassation Charalampos Vourliotis, and covers all persons allegedly involved in the related legal proceedings.
What the decision covers
The measure concerns bank accounts, safe deposit boxes and every other asset of the suspects in both cases. The objective is to prevent any disposal or transfer of assets for as long as the cases remain under judicial investigation.
The authority's intervention followed arrests and investigations into networks of extensive tax evasion that brought both Pizza Fan and Choriátiko into the spotlight.
Exemption for employee payroll
Bank accounts used for the payment of wages are explicitly exempted from the seizure, so as not to affect employees who are not alleged to bear responsibility for the actions under investigation. The same provision applies to the Choriátiko chain.
In the Pizza Fan case, sources report that the authorities are specifically examining the possibility of paying payroll and employment contributions, as the fate of approximately 2,500 employees remains in a state of uncertainty, with stores remaining closed.
The Pizza Fan case: sales concealment software and damage of €35 million
For Pizza Fan, the investigation focuses on a network of extensive tax evasion. The authorities are examining the use of specialist software to conceal sales and prevent the issuance of receipts. Based on information published in the legal file, the estimated damage to the State exceeds €35 million.
This morning, the first 10 of a total of 33 suspects appeared before the investigating magistrate to testify. The procedure is expected to continue on Tuesday, 27 October for the remaining 23.
The Choriátiko case: VAT, insurance contributions and damage of up to €100 million
For the Choriátiko bakery chain, investigations concern economic and tax crimes allegedly connected with business activities. At the centre are cases of tax evasion, non-payment of VAT and insurance contributions. The estimated damage to the State is alleged to reach or exceed €100 million.
Source: Ethnos