Folli Follie: Members of the Koutsolioutsos family and two associates guilty of a series of felonies

A year after the start of the hearing in the trial of the high-profile financial scandal of Folli Follie, the Third Criminal Court of Appeal, which has been hearing the case since last June, today announced its decision on the guilt of the defendants.

According to it, all 11 defendants were found not guilty of the offence of forming, directing and joining a criminal organisation.

The court then announced the guilt of Dimitris Koutsolioutsos for instigating forgery, fraud, market manipulation and money laundering by joint action, as well as for misuse of privileged information.

For Ike. Koutsoliutsou the court announced her guilt upon conversion of the charge of conspiracy to commit fraud in common, market manipulation and money laundering.

J. Koutsolioutsos was found not guilty of the offence of inciting to forgery. Instead, he was found guilty of fraud, market manipulation and money laundering.

The accused associate of the Koutsoliutsou family was found guilty of conspiracy to commit forgery, conspiracy to commit joint fraud, conspiracy to commit market manipulation and money laundering.

Furthermore, wanted man Ioannis Beyetis was found guilty of forgery, direct complicity in fraud, direct complicity in market manipulation and money laundering.

In contrast, the other six defendants in the case were found not guilty of the charges against them.

It should be noted that the court’s decision was unanimous in all aspects. The proceedings are expected to continue with arguments by counsel on mitigating circumstances. It is even possible that the decision on the sentences to be imposed on the five defendants found guilty will be announced by the court tomorrow.

The prosecutor’s proposal

It will be recalled that the prosecutor of the court in a previous session of the court had asked for the guilt of Dimitris Koutsolioutsos and his son Tzortzi, but also two other close associates. Instead, he proposed the full acquittal of Kaitis Koutsolioutsou and the other six defendants in the case.

More specifically, the prosecutor requested the acquittal of all defendants for the offences of criminal organisation and fraud, which formed the main “core” of the indictment.

For Dimitris Koutsolioutsos, the prosecutor had proposed a conviction for instigating forgery, market manipulation and money laundering, but not on a professional basis as was in the indictment. For Giorgis Koutsolioutsos, the prosecutor asked for a guilty plea for market manipulation and money laundering, not professionally.

Finally, for the defendant who was a close associate of Dimitris Koutsolioutsos, she suggested that he be declared guilty of complicity in market manipulation and money laundering, while for the company’s big boss in Asia, Ioannis Beyeti, she asked that he be convicted of forgery and complicity in market manipulation.

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