A new request for the release of Folli Follie’s assets was submitted by the lawyers representing the temporary management of the company to the Tripartite Court of Criminal Appeals of Athens where the trial for the fictitious balance sheets continues. A decision of the Supreme Court is pending on the same issue after the appeal that was brought to unfreeze these assets so that the company’s consolidation process can proceed.
The court finally rejected the relevant request in view of the issuance of the decision by the Supreme Court. For his part, the founder of Folli Follie, Dimitris Koutsolioutsos, continued today for the second day his apology, describing his personal journey to build the company and consolidate it, with dozens of stores not only in Greece but also in Europe, America and the Asia.
In an abhorrence of his apology, the defendant even referred to the company’s successful course, thanks to which it reached Hollywood, where its clientele included even Madonna who had ordered earrings for a concert.
“I want to say for myself that I put everything I had into the company and I wronged my family as well. In May 2018 I put 6.5 million into the company instead of getting, when things were tough, I bought stocks, I didn’t sell. Asia and Greece were also healthy. All my labors of 40 years are gone from 2018 till today. I don’t owe anything. They accuse me that it was all fake, when it was all true.”
The trial was adjourned until tomorrow
Chairman: What negative could have happened in Asia?
Accused: The investments in the communication part had a lot of expenses. I was borrowing from my own capital and putting it in Asia to grow.
Chairman: At what point in time does a problem occur in Asia?
Accused: At first around 2009. I didn’t want to show that I was struggling financially at that time, 2008-2009 we’re talking about. Everything I see does not correspond to reality. I am appearing as a fraud with a company that did not exist when there were more than 500 stores.
Chairman: Finally what happened?
Accused: What happened was that some things were embellished.
Chairman: Who beautified them?
Accused: There were two real companies that had an entity. These did not join the group, but were owned by Folli. The profits went to these companies.
The trial was adjourned until tomorrow as the defendant was unable to continue citing, among other things, the fact of confusion caused by the presence in court only of the lawyers of the interim management of Folli Follie.
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