Pizza Fan Probe Leads to 23 Arrests and €1.28 million in cash

by · Greek City Times

Greek authorities have seized 92 luxury watches, valuable jewellery and more than €1.28 million in cash during an investigation into an alleged tax evasion scheme involving the owner of Pizza Fan, one of Greece’s major pizza chains.

Police carried out the operation on Thursday, October 22, 2026, searching offices, businesses and homes in Attica and Thessaloniki. Officers arrested 23 people, including a 68-year-old man alleged to have led the organisation, while investigators identified another 109 people in the case file.

Authorities estimate that the alleged scheme cost the state more than €35 million in unpaid income tax and value-added tax (VAT). They estimate that the network concealed more than €150 million in taxable revenue.

Luxury watches, diamonds and cash hidden in a villa

During a search of Konstantinos Antaras’ villa in Ekali, officers seized 92 watches from prestigious brands, including Rolex, Patek Philippe, Vacheron Constantin, Audemars Piguet, Panerai, Zenith and Franck Muller.

Read more: Pizza Fan Owner and Employees Arrested in €25 Million Greek VAT Probe

Investigators also found certificates of authenticity, repair receipts and spare parts associated with luxury watchmakers.

Other seized items included a diamond necklace, a ring and three pink-coloured gemstones. Authorities have not disclosed their value.

Investigators also discovered €1,175,990 in cash concealed in a hidden room behind a shoe cabinet. The money lay wrapped in bundles and stacked on top of one another.

Officers seized a mobile phone, computers, a hard drive and a folder containing Pizza Fan tax and statistical documents. They also recovered a black case containing four vintage lighters and two gold-coloured pocket watches.

Searches at other properties uncovered additional evidence, including diaries containing notes covering the years 2023 to 2026.

Across all locations, authorities seized €1,288,732.60 in cash, 52 computer units, six luxury cars, three motorcycles, mobile phones, laptops, storage devices and other digital evidence.

Authorities will transfer the cash to the Deposits and Loans Fund, while forensic specialists will examine the digital evidence.

Special software allegedly enabled sales without receipts

According to the police investigation, the organisation had operated an alleged revenue-concealment mechanism since 2016, using specialised software that allowed restaurants to complete orders without issuing the legally required receipts.

Investigators say the system relied on a function known as kerasma, meaning “treat” or “complimentary item”.

The software recorded and processed orders normally but allowed selected transactions to be completed without generating receipts. The transactions remained in the central system, which allegedly enabled the network to track actual turnover and calculate the revenue concealed from tax authorities.

The case file describes distinct roles among the alleged members, including management, financial administration, software support and coordination of individual stores. Some individuals allegedly collected and transferred money generated by undeclared transactions.

Authorities are also examining reports that members received warnings about impending tax inspections.

Investigators examine financial flows and overseas company links

As part of the financial investigation, authorities examined the company’s corporate structure and the involvement of a company based abroad.

Investigators are tracing financial flows and the movement of funds allegedly generated by the network.

Authorities have also initiated proceedings to freeze assets belonging to individuals and legal entities, following a request from the Directorate for Combating Organised Crime to the Authority for the Prevention of Money Laundering.

Investigators prepared 108 audit reports covering 2023, 2024, 2025 and 2026 and forwarded them to Greece’s Independent Authority for Public Revenue (AADE) to determine the taxes allegedly evaded.

The arrested individuals appeared before the competent prosecutor. The investigation remains ongoing, and the allegations must be established through the judicial process.

Former franchise owner alleges pressure and threats

A former franchise owner, who operated a store for approximately three to four years, has described alleged pressure he experienced after refusing to follow practices he said others demanded of him.

“I did not agree with what was happening. I wanted to leave. I did not want to do it. They pressured us through intimidation. There was intimidation in general. ‘If you don’t do what I tell you, I’ll shut your shop down,’” he said.

He added that franchise operators who had experienced similar pressure should not be held responsible for the alleged scheme.

Cash stored in plastic bags found at alleged deputy leader’s home

Images broadcast by SKAI television’s Report at 10 programme showed cash stored in plastic bags, reportedly discovered during a search of the home of a person described in the case file as the alleged organisation’s deputy leader.

The images add to the evidence seized during the operation, which included more than €1.28 million in cash, 92 luxury watches, jewellery, electronic devices and other items.

(Source: AMNA)

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