Anna Stratinaki submitted her resignation from the position of Deputy Head of the Independent Market Authority due to her husband’s involvement in the Panagopoulos case.

As announced by the Ministry of Development, “Ms. Anna Stratinaki will not assume the position of Deputy Head of the Independent Authority for Market Supervision within the framework of the Consumer Ombudsman, as she submitted her resignation for family health reasons, as she herself states in her letter.”

Ms. Stratinaki had taken on the duties of Consumer Ombudsman in 2024. This year, the Ombudsman is being upgraded to an Independent Authority, and she was expected to continue as Deputy Head. However, following developments in the case involving the misappropriation of funds and her husband’s involvement, she proceeded with a letter declaring that she would not continue in the role assigned to her.

According to information, the journalist from ERT whose accounts were frozen has also been placed on suspension, as his name is likewise implicated in the embezzlement case involving millions of euros, for which the president of the GSEE is also accused.

How the Panagopoulos Network Operated

The transfer of state and European funds through a network of shell companies, direct awards to training contractors who lacked technical means or personnel, cash payments, and approximately €2.1 million that changed hands without lawful justification—or possibly for services that were never provided…

This is how the scheme of embezzlement of public funds, which operated for years, is described. It was uncovered by the Authority for Combating Money Laundering in a case that also implicates the president of the GSEE, Giannis Panagopoulos, along with five other individuals. The Authority concludes that there are strong indications that, jointly and in cooperation, they committed felony-level embezzlement against the Greek State and the European Union, professionally and repeatedly.

On February 3, 2026, the Authority issued an order freezing assets following a report submitted to the Athens Public Prosecutor’s Office. The case concerns six individuals—as well as a series of companies through which the disputed funds are alleged to have been circulated—for whom, based on the evaluation of the evidence, the Authority finds strong indications that they developed coordinated and joint action to commit embezzlement and the offense of money laundering on a professional basis, in accordance with Law 4557/2018 and the Penal Code.

The Role of the GSEE President

Giannis Panagopoulos appears as the central figure in the Authority’s investigation. In his capacity as president of the General Confederation of Greek Workers (GSEE) and affiliated bodies (such as the Labor Institute and the GSEE Vocational Training Centers), he is alleged to have participated in the embezzlement of funds originating from grants and European financing intended for the implementation of training programs. These bodies manage significant public and European funds earmarked for the vocational training of workers.

“Shell Companies” and Cash Transactions

The Authority’s investigation shows that fund management was carried out through the assignment of projects—either by direct award or following tender procedures—to specific advertising and communication companies, publishing firms, financial management consultants, and others, which at times rotated among themselves in undertaking the “projects.”

According to information, the practice identified by the Authority was as follows:

• GSEE legal entities had funds allocated for the implementation of training programs.
• Contractor companies entered into contracts and received part of the funds in cash without lawful cause, after the funds had been credited through the financial system.
• Some of these companies lacked the necessary personnel to substantially fulfill their contractual obligations, which, according to the Authority, indicates that they functioned as “vehicle” companies for the transfer of funds.
• The amounts were illegally transferred to the actual beneficiaries of the companies and to Mr. Panagopoulos.
• The total amount allegedly circulated through these activities is estimated to exceed €2,096,344.19.

Based on these indications, the Authority concluded that there are reasonable suspicions that the suspects unlawfully appropriated this amount and subsequently mixed it with other lawfully held assets. They used it in their general financial activities and retained it for a long period, intending to legalize it by concealing its true origin, thus making its detection and seizure impossible.

Intermediary “Links”

A critical finding of the inspectors was that, in investigating the companies awarded the projects, it was found in some cases that they lacked the necessary staff and infrastructure to implement the contractual obligations of the training projects for which they were selected. This element, according to the Authority, indicates that these companies functioned as “intermediaries” for channeling funds to the real beneficiaries (the involved individuals) rather than as legitimate project contractors.

Another significant finding, according to the freezing order, was that the funds were used in the general financial activities of those involved and were held for a long time, with part of them mixed with other lawful income, constituting the offense of professional money laundering.

Seizures and Asset Freezes

However, by concealing the true origin and subsequent destination of the funds, the Authority was able to trace only a portion of the amounts alleged to constitute proceeds of crime.

In order to prevent the loss of the possibility of recovering the funds for the public, the Authority deemed it necessary to freeze bank accounts, securities, investment and financial products, as well as safe deposit boxes of the involved individuals and legal entities, up to the estimated amount of the criminal proceeds. Amounts corresponding to salaries, pensions, basic living needs, and legal defense expenses are excluded from the freeze.

In addition, it ordered the prohibition of the sale or any other transfer of assets belonging to the investigated individuals, including, among others, full ownership of a “plot of land within a residential area, with an existing raised ground-floor residence, with a surface area of two thousand one (2,001) square meters,” currently located within the boundaries of the Municipal Community of Agios Stefanos.

The freezes remain in force under the procedure provided by law until the final judgment of the judiciary regarding the charges faced by those allegedly involved in the scheme. In the case of frozen shares, the Authority exceptionally allows their partial or full sale or transfer, provided that the proceeds of the sale or transfer are deposited into the frozen accounts of the individual concerned.