Folli Follie: Multi-year sentences for Koutsolioutsos and associates – The sentences imposed

The decision on the sentences of the five defendants found guilty in the Folli Follie case was announced a short while ago by the Three-Member Court of Appeal for Criminal Matters of Athens, after a year-long hearing.

Specifically, the court imposed the following final sentences:

To Dimitris Koutsolioutsos: 17 years imprisonment.

To Georgis Koutsolioutsos: 11 years’ imprisonment.

To Aikaterini Koutsolioutsou: 10 years’ imprisonment.

For the two other convicted associates of the Koutsoulitsos family:

• E.N.: 10 years imprisonment.
• The fugitive Ioannis Begetis: 15 years imprisonment.

The court will decide later today whether to grant suspensions of the sentences for the five convicted individuals.

Verdict on Guilt

Yesterday, the Three-Member Court of Appeals for Felonies, which has been handling the case since last June, announced its decision on the guilt of the defendants. According to this decision, all 11 defendants were acquitted of charges related to forming, directing, and participating in a criminal organization.

Subsequently, the court announced the guilt of Dimitris Koutsoulitsos for incitement to forgery, fraud, market manipulation, and money laundering, as well as for misuse of privileged information.

Aikaterini Koutsoulitsos was found guilty of complicity in fraud, market manipulation, and money laundering.

Tzortzis Koutsoulitsos was acquitted of the charge of incitement to forgery but was found guilty of fraud, market manipulation, and money laundering.

The convicted associate of the Koutsoulitsos family was found guilty of complicity in forgery, fraud, market manipulation, and money laundering.

The fugitive Ioannis Begetis was found guilty of forgery, direct complicity in fraud, direct complicity in market manipulation, and money laundering.

In contrast, the remaining six defendants in the case were acquitted of the charges against them. Notably, the court’s decision was unanimous in all aspects.

Recognition of Mitigating Factors

Yesterday, the court also recognized the mitigating factor of a previously lawful life for the five convicted individuals. Specifically, this mitigating factor was recognised for Dimitris Koutsoulitsos, Tzortzis Koutsoulitsos, Kaiti Koutsoulitsos, and their two associates, who were found guilty of a series of felony offenses. Additionally, Tzortzis Koutsoulitsos was granted the mitigating factor of removing the consequences of his actions. The trial is expected to continue tomorrow with the court’s decision on the penalties.

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