Dimitrios Koutsolioutsos

Greek jewelry maker Folli Follie said on Thursday it had appointed a new chief executive officer and operations chief for its Asian business, which has been at the center of an accounting scandal that has led to judicial and stock market investigations.

Folli Follie's chairman and vice-chairperson stepped down after a preliminary audit of the troubled jewellery maker revealed discrepancies in 2017 financial statements, Folli said on Wednesday.

By Tom Metcalf

Dimitrios Koutsolioutsos, the founder and chairman of Folli Follie SA (FFGRP), has become a billionaire as the Athens-based maker of jewelry, handbags and fashion accessories increased almost 10-fold in the last two years.