Μake us preferred on Google Judicial authorities have ordered the freezing of assets belonging to defendants in two massive tax fraud investigations involving the Pizza Fan and Horiatiko bakery chains, as the cases continue to unfold and suspects begin appearing before investigating magistrates.
The order was issued by Charalambos Vourliotis, the head of Greece’s Anti-Money Laundering Authority and a former deputy prosecutor at the Supreme Court. It covers all assets held by those implicated in the two cases, including bank accounts and safe-deposit boxes, while explicitly exempting accounts used to pay employees’ wages.
The measure is intended to prevent the alleged proceeds of criminal activity from being moved or concealed while protecting employees’ claims to outstanding wages. The payroll exemption applies to both Pizza Fan and (To) Horiatiko, amid uncertainty over the future of the businesses and the financial position of their workers.
Suspects in the Pizza Fan tax fraud case are escorted by police in Athens on Monday, Oct. 26, 2026. The investigation concerns alleged large-scale tax evasion, with dozens of people arrested and judicial proceedings ongoing. InTime photo
Pizza Fan: First 10 suspects appear before magistrate
In the Pizza Fan case, the first 10 of the 33 defendants were brought before an investigating magistrate at the Athens court complex on Monday to give preliminary statements. The remaining 23 suspects, including the businessman who owns the chain, were expected to appear on Tuesday.
Authorities are examining an alleged tax evasion scheme estimated to have cost the state at least 25 million euros in unpaid value-added tax (VAT). According to allegations found in the investigation, the suspected scheme involved recording paid orders as complimentary or “treats,” through the chain’s ordering system, concealing sales revenue and thus reducing the tax owed.
The case file reportedly includes recorded conversations among suspects that investigators are examining as evidence. The allegations remain under investigation, and the defendants are presumed innocent unless convicted by a final court judgment.
The investigation has also disrupted the chain’s operations, with approximately 2,500 employees facing uncertainty over their jobs and outstanding wages following the closure of its stores. The employees’ situation adds urgency to the authorities’ decision to exempt payroll accounts from the asset freeze.
Pizza Fan employees hold a banner reading, “Guarantee jobs and all the rights of Pizza Fan employees immediately! We will not pay for their dirty profits with our own livelihoods!” during a protest organized by the Union of Tourism, Catering and Hotel Workers of Attica (prefecture), Monday, Oct. 26, 2026. InTime photo.
Horiatiko: 59 arrests as investigation expands
In the separate case involving the To Horiatiko bakery chain, authorities had arrested 59 people by Monday, including the chain’s 57-year-old owner, accountants and business associates. Police operations and searches have extended beyond the bakeries to other businesses reportedly linked to the primary suspect, including nightclubs and beach bars.
The investigation concerns suspected tax and social security contribution evasion on a much larger scale. Current estimates put the potential damage to the state at more than 100 million euros, including over 55 million euros in unpaid VAT since 2016 and approximately 45 million euros in unpaid contributions to Greece’s primary social security agency, EFKA.
Authorities are examining a network of at least 520 companies, many of which are suspected of having been used to conduct business while leaving tax and social security debts unpaid. They are also seeking to establish who exercised actual control over the companies and who ultimately benefited financially.
Some people listed as company owners allegedly received between 500 and 700 euros a month to lend their names to businesses without exercising any meaningful control over their operations. Investigators are examining the roles of accountants and other associates, as well as possible links to state agencies and allegations that information about the investigation reached the businessman before his arrest.
The 57-year-old man had reportedly been staying in Dubai for about six weeks after allegedly learning that his business activities were under scrutiny. Police are said to have carried out an operation at a nightclub linked to him the previous week, which led him to believe that the investigation concerned that establishment rather than his wider business network. He subsequently returned to Greece, where he was arrested.
The investigation is believed to have been underway for at least nine months, with simultaneous searches conducted in Athens, Mykonos, Rhodes and Volos.
Tax bureau examines possible leaks ahead of Pizza Fan audit
In a related development, the Independent Authority for Public Revenue (AADE) has asked police, in writing, whether their investigations or evidence point to the possible involvement of specific AADE employees in allegations that Pizza Fan’s owners were tipped off about an impending audit.
The request was made by AADE’s internal affairs directorate on the instructions of its director, Giorgos Pitsilis. The inquiry is intended to establish whether any public officials may have disclosed information about planned audits to the company under investigation.
The allegations of possible leaks remain a separate line of inquiry, and no conclusions about the involvement of specific employees have been established.
