Koutsolioutsos family face criminal charges

Less than 24 hours after a court order was issued for the ejection of George Koutsolioutsos from the board of troubled jewelry-maker Folli Follie, a financial prosecutor on Tuesday filed criminal charges against Koutsolioutsos and his family who founded the company.

The charges refer to the setting up of a criminal organization, stock manipulation and forgery and concern George Koutsolioutsos, his parents Dimitris and Katerina, and a number of associates from the company’s Asian subsidiary.

A total of 13 people are accused of stock manipulation for the period from 2016 to 2017.