Greece’s capital markets committee on Friday issued another round of fines, this time totaling 2.5 million euros, against more than a dozen people who held top management, board of directors and auditor positions with the Folli Follie company, which is at the center of various investigations for insider trading, stock manipulation and money laundering by its owners.
Felony charges have been filed as far back as 2018 against 10 former FF executives on fraud and money laundering charges, with the main suspects being Dimitris Koutsolioutsos, the founder of the jewelry and accessory retailer, and his son and successor at the helm, George.
The previously listed and once high-flying luxury brand came under intense scrutiny by regulators and investors in 2018 after NYC-based Quintessential Capital Management, a hedge fund, publicly challenged its financial statements.
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