Bulgarian companies have been linked to an investigation into an alleged large-scale tax fraud in Greece, involving losses estimated at hundreds of millions of euros. Investigators are examining transactions with 13 companies registered in Bulgaria, with a combined value exceeding 2 million euros.
The case is connected to the Horiatiko bakery chain. So far, 59 people have been detained, including its 57-year-old owner, Angelos Yiannakopoulos. He is reported to have links to more than 500 companies.
The investigation indicates that the network extends across 10 countries. Hundreds of millions of euros allegedly moved through foreign bank accounts, including accounts in Ireland, Luxembourg, the United Kingdom and Cyprus.
Greek authorities are checking whether the transactions involving the Bulgarian companies were genuine or fictitious and used as part of the alleged tax scheme. Deals with Romanian companies worth more than 1 million euros are also being examined, as are transactions involving Dutch companies worth over 350,000 euros.
Investigators say that 47 companies connected to Horiatiko maintained bank accounts in Ireland. Around 20 other companies used a bank headquartered in Luxembourg that provides international payment services.
The inquiry also covers transactions worth more than 1 million euros in Italy and operations involving three French companies with a combined value of over 1.2 million euros. In August 2025, a Greek company transferred 1.5 million euros to an account belonging to a company served by a bank in London.
Greek police have requested international legal assistance to identify the beneficial owners of the companies and obtain documentation concerning the banking operations.
Because of suspicions of extensive tax violations and losses to the state budget, Greek anti-money-laundering authorities have frozen Angelos Yiannakopoulos’s assets. Investigators are also examining his business activities on the islands of Mykonos and Rhodes. On Mykonos, his name has been associated for years with restaurants, nightlife and tourism.
Source: btvnovinite.bg
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2628 | 27 Oct. 2026 | 18:15
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