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The provisional judicial investigation completed by PwC on behalf of the Hellenic Capital Market Commission in relation to the listed Folli Follie scandal, and which has also been brought to justice, records, in addition to the financial “cooking”, illegal transactions and manipulation of the investing public. and how the Koutsolioutsou family normally took over the business, ceding real estate to the family.
The company – without even a prior decision by its board of directors – paid for the purchase of furniture, decoration and other household items for a total value of 125,000 euros, which decorated the family homes.
As is known, it had taken over the purchase and maintenance of luxury cars, boats and planes, some of which were confiscated and returned to the company and others – such as the plane – were sold in 2019 to cover the expenses of the company.
PwC also said that annually since 2011, the company spent € 60,000 on wines, which for many years were not even consumed and ended up as unfit for consumption.
It is also impressive that Folli Follie “gifted” a property to its former CEO and son of the owners, George Koutsolioutsos. According to the PwC report, a completely paradoxical relocation of a plot tangent to the Koutsolioutsos family home in Kifissia was identified. The property in question was owned by the company from 1997 to 2003, when on November 5, 2003 it became the property of George Koutsolioutsos through a transaction in which Dimitris Koutsolioutsos represented the company. According to the contract, the price of 674 thousand euros was paid by George Koutsolioutsos to Dimitris Koutsolioutsos in cash without the presence of a notary. It was not possible to confirm the payment of the price by George Koutsolioutsos to the company due to the non-delivery of the information required by the company.
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