Police Arrest Bakery Chain Owner in €100 Million Tax Fraud Probe

25 Oct 2026, 21:55 by Kosta Papadopoulos · Greek City Times

Greek police have arrested the owner of a major bakery chain and around 50 other people in an investigation into an alleged tax fraud scheme estimated to have cost the Greek state more than €100 million, including unpaid social security contributions.

Officers from the Directorate for Combating Organised Crime are conducting a large-scale operation that remains ongoing. The arrests include accountants and executives from the businessman’s companies.

According to reports, police operations are taking place simultaneously in Athens, Mykonos, Rhodes and Volos.

Authorities reportedly arrested the businessman near Ioannina on Sunday as he attempted to leave Greece for Albania, despite being subject to a travel ban.

The bakery chain owner had reportedly been living in Dubai and recently returned to Greece. Police had initially planned to arrest him on Monday morning, but information received by investigators indicated that he had left by car and was heading towards Albania, prompting officers to bring forward the operation.

According to information released so far, investigators began examining the alleged scheme early this year. More than 520 companies are reportedly linked to the investigation.

Authorities suspect that individuals used nominees, or so-called “front men”, to conceal the companies’ actual ownership or business activities.

The investigation extends beyond the bakery chain to cover the businessman’s wider commercial operations.

Police have not yet completed their operation, and further details are expected as the investigation progresses.

(Source: AMNA)

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