Urgent prosecutorial investigation into the Panagopoulos case – Probe into two felony charges

An urgent preliminary investigation is being launched by the Prosecutor for Financial Crime in relation to the embezzlement case in which the president of the GSEE, Giannis Panagopoulos, appears to be implicated.

According to information, the report of the Authority for Combating Money Laundering has reached the offices of the competent Prosecutor’s Office and has now been assigned to an assistant prosecutor, who has been tasked with examining whether there are indications that the offences listed in the report — embezzlement and money laundering — have been committed at the level of felony.

According to the same sources, as a first step the prosecutor is expected to serve the orders for the freezing of assets decided by the independent authority on the trade unionist and the other five natural persons under investigation. In this way, those involved will be able to file appeals against the asset freezes within a specific deadline.

Subsequently, the criminal investigation of the case will follow, in particular through requests to banking institutions and the Land Registry, as well as other services, to examine whether European and national funds that had been allocated for educational programmes were indeed embezzled.

The investigation is expected to be completed with the summoning of those involved to give unsworn statements in order to provide their own explanations regarding the case.

The timeline of the Panagopoulos case

It is recalled that the Authority for Combating Money Laundering proceeded on Thursday (6/2) with the freezing of the bank accounts of the president of the GSEE, Giannis Panagopoulos, requesting that his involvement in a case of embezzlement of European and state funds intended for educational programmes be criminally investigated.

According to information, in its report the independent Authority referred to the need to investigate two felonies — embezzlement and the laundering of proceeds from criminal activities — in relation to the trade unionist and a further 12 individuals, six natural persons and six legal entities, for whom the freezing of bank accounts was requested.

According to the independent Authority, Giannis Panagopoulos’ involvement lies in the fact that, in his capacity as president of three vocational training and education centres and institutes, he allegedly embezzled national and European funds intended for education and training programmes, amounting to a total of €73 million for the period 2020–2025.

As stated in the Authority’s report, an analysis of the financial activity of the individuals and companies involved revealed, among other things, that the trade unionist appears to have proceeded with direct awards or awards through tenders of public projects — without necessarily being posted on Diavgeia — to specific companies, as well as to other intermediary companies to which he allegedly systematically channelled funds, with these companies alternating among themselves as project contractors.

It was also found that some of these companies showed no actual activity nor possessed the necessary technical infrastructure to carry out the projects they undertook, while part of the funds was paid in cash.

In addition to the above, it was established that transfers of funds were made to the personal accounts of natural persons without lawful justification, as well as cash withdrawals amounting to approximately €1.5 million.