Folli Follie Case: Ex-Chairman Charalambos Gotsis and Two Others Acquitted

The court has acquitted former Capital Market Committee chairman Charalambos Gotsis, former vice-chairman Georgios Koutsolioutsos, and the former director of security at Folli Follie. The unanimous verdict found them not guilty of the charge of breach of duty and professional misconduct regarding the delayed suspension of company stock trading in May 2018. This was when the first reports emerged about falsified financial data linked to Folli Follie. According to the court’s decision, which aligns with the prosecutor’s recommendation, the offense of breach of duty could not be substantiated as it fell within the discretionary power of the then-chairman of the Capital Market Committee to request or not request the suspension of trading. Furthermore, no personal gain for Koutsolioutsos or his family was identified during the prosecution.