The head of the Anti–Money Laundering Authority and former deputy prosecutor of the Supreme Court, Charalambos Vourliotis, has ordered the freezing of bank accounts, safe-deposit boxes, and shares belonging to the president of the GSEE, Giannis Panagopoulos, along with six other natural persons and six companies. Two properties linked to the individuals under investigation have also been frozen.

Following an investigation by the Authority, Mr. Panagopoulos and the other individuals are alleged to be involved in a case of misappropriation of funds and financing from the Greek state and the European Union, totaling more than €73 million. These funds were intended for seven educational and training programs. Mr. Vourliotis’s findings have been forwarded to the competent prosecutor, indicating evidence of two felonies: misappropriation and money laundering.

Six additional individuals and six companies are also implicated in the case, and their bank accounts have been frozen. Two properties owned by the persons under investigation have likewise been seized.

As part of the investigation carried out by the Anti–Money Laundering Authority, the activities of the individuals and the companies under review were examined, particularly in relation to the management of national and European funds for the provision of vocational education and training services.

Funding exceeding €73 million – many direct awards not posted on Diavgeia

The investigation focused on funding exceeding a total of €73 million received between 2020 and 2025 from European and national sources. At the same time, the manner in which these funds were disbursed was also examined. According to the Authority’s report to the prosecution and the analysis of financial data—especially the financial activity of the individuals and companies involved—there are serious indications of criminal offenses.

More specifically, there are strong indications that the president of the GSEE and other implicated parties misappropriated financial resources originating from grants and subsidies provided by the Greek state and the European Union.

The Authority mapped the method allegedly followed by the main figure in the case, involving direct awards or tender-based assignments of public projects to specific companies, as well as to intermediary companies to which funds were systematically channeled. These companies alternated as project contractors. According to the Authority’s findings, many of the direct awards were not even posted on the Diavgeia transparency platform.

In cases where projects were awarded through competitive tenders, it was observed that the companies under investigation participated alternately, over specific periods, in multiple tenders for the same projects and were consistently selected as contractors by the competent committee, whose chair was the president of the GSEE.

Transfers and cash withdrawals exceeding €1.5 million without lawful justification

The investigation further found that some of the companies showed no real activity and lacked the necessary infrastructure and personnel to carry out the projects. Part of the funds was withdrawn directly in cash, a fact which, according to the Authority, indicates that these entities functioned as “vehicle companies.”

This practice is believed to have been used to lend an appearance of legitimacy to transactions amounting to at least €577,000 for the alleged provision of services by these companies, constituting artificial movement of funds and a scheme to conceal the true use of contractual resources.

Additionally, extensive transfers of funds were identified to personal accounts of related individuals without lawful justification, along with repeated cash withdrawals exceeding €1.5 million. These findings indicate a deliberate attempt to conceal the origin and ultimate appropriation of the funds.

According to the Authority, these withdrawals give rise to strong suspicions that the amounts ultimately came into the possession of the union official under investigation and the other implicated individuals. Based on the evidence gathered, the Authority concludes that there are serious indications of the crimes of misappropriation and money laundering.

The report, now in the hands of the competent prosecutor, marks the start of a criminal investigation, within the framework of which all individuals under investigation will be summoned.